GBP/JPY Forecast – British Pound Continues to Consolidate Against Yen

GBP/JPY Forecast – British Pound Continues to Consolidate Against Yen

Source: EODHD - https://finance.yahoo.com/news/gbp-jpy-forecast-british-pound-174208367.html
Published: Nov 10, 2023 12:42 PM

GBP/JPY Forecast Video for 13.11.23 British Pound vs Japanese Yen Technical Analysis The British pound has continued to consolidate against the Japanese yen, as we are hanging around the ¥185 level. The ¥185 level of course is an area that has been a bit of a target for a while, and a bit of an anchor for price. As we continue to form these contradicting candlesticks, it just shows how confused and lost the market is right now. That being said, it’s probably worth noting that the pair does tend to be very noisy when it comes to geopolitical noise, and of course the fact that the Japanese yen is considered to be a safety currency has a lot to do with what happens. However, at the same time yo...

Market context: This update is relevant to GBP traders, with GBPJPY as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.