GBP/JPY Forecast – British Pound Continues to Rally on a Breakout

GBP/JPY Forecast – British Pound Continues to Rally on a Breakout

Source: EODHD - https://finance.yahoo.com/news/gbp-jpy-forecast-british-pound-144253047.html
Published: Nov 14, 2023 9:42 AM

GBP/JPY Forecast Video for 15.11.23 British Pound vs Japanese Yen Technical Analysis The British pound has rallied significantly during the course of the trading session on Tuesday as we are now above the ¥187 level. At this point, the market looks as if it is ready to go much higher, and short-term pullbacks should continue to offer a buying opportunity. I do believe that this pair goes to the ¥190 level before it is all said and done, especially as the Bank of Japan is nowhere near tightening its monetary policy. The ¥185 level underneath is a major support level, and I do think that it is probably only a matter of time before we see buyers jump back into the market if we get anywhere near...

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.