GBP/JPY Forecast – British Pound Continues to See Buyers Against Japanese Yen

GBP/JPY Forecast – British Pound Continues to See Buyers Against Japanese Yen

Source: EODHD - https://finance.yahoo.com/news/gbp-jpy-forecast-british-pound-152820775.html
Published: Nov 07, 2023 10:28 AM

GBP/JPY Forecast Video for 08.11.23 British Pound vs Japanese Yen Technical Analysis The British pound continues to fight right around the ¥185 level against the Japanese yen, a currency that of course has its own issues. After all, the Bank of Japan is doing everything it can to keep interest rates down, which is negative for the currency itself. Given enough time, I do think this is a situation where the market will eventually try to break above the high of the shooting Star candlestick for Monday, opening up the possibility of an attack on the recent highs near the ¥187 level. In that environment, I fully anticipate that the Japanese yen will be eviscerated against almost everything, not...

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.