GBP/JPY: Race back to 200.000?
On Monday, the yen dropped to 160.000 per dollar, marking its lowest level since 1990, before rebounding more than 3% to 154.5 per dollar. This rebound was suspected to be the result of intervention by Japanese authorities.
According to reports from Bloomberg, the Bank of Japan (BoJ) likely injected ¥5.5 trillion into the currency markets after discrepancies were noted in the BoJ's operations report on Tuesday, where market forecasts didn't align with reported current account figures.
Both the GBP/JPY and USD/JPY pairs are gradually recovering on the charts. The USD/JPY is testing levels above 157.500, while the GBP/JPY is eyeing 197.00.
Both pairs could keep on advancing if the forthcoming US data continues to surprise. Notably, the Fed taking a hawkish tone after its FOMC decision on Wednesday and jobs data due on Friday.
The GBP/JPY's recent peak at 200.60 remains a key target for traders despite potential intervention by the BoJ.
Looking forward, market sentiment could appear bullish, with attention focused on key levels such as the 193.600 resistance-turned-support and the 10-day SMA.
According to reports from Bloomberg, the Bank of Japan (BoJ) likely injected ¥5.5 trillion into the currency markets after discrepancies were noted in the BoJ's operations report on Tuesday, where market forecasts didn't align with reported current account figures.
Both the GBP/JPY and USD/JPY pairs are gradually recovering on the charts. The USD/JPY is testing levels above 157.500, while the GBP/JPY is eyeing 197.00.
Both pairs could keep on advancing if the forthcoming US data continues to surprise. Notably, the Fed taking a hawkish tone after its FOMC decision on Wednesday and jobs data due on Friday.
The GBP/JPY's recent peak at 200.60 remains a key target for traders despite potential intervention by the BoJ.
Looking forward, market sentiment could appear bullish, with attention focused on key levels such as the 193.600 resistance-turned-support and the 10-day SMA.
Import the BlackBull Markets Economic Calendar:
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium with BlackBull Markets: blackbull.com/en/platforms/tradingview/?utm_source=tradingview
blackbull.com/en/economic-calendar/?utm_source=tradingview
Free TradingView Premium with BlackBull Markets: blackbull.com/en/platforms/tradingview/?utm_source=tradingview
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.