GBP/JPY Forecast – British Pound Finds Buyers on Dips

GBP/JPY Forecast – British Pound Finds Buyers on Dips

Source: EODHD - https://finance.yahoo.com/news/gbp-jpy-forecast-british-pound-152146836.html
Published: Nov 15, 2023 10:21 AM

GBP/JPY Forecast Video for 16.11.23 British Pound vs Japanese Yen Technical Analysis The British pound has gone back and forth during the course of the trading session on Wednesday, testing the ¥187.25 level. At this point, it looks like the market is trying to turn around and take off to the upside, as interest-rate differential continues to drive this pair. The Bank of Japan is nowhere near loosening its monetary policy, and therefore it’s likely that this pair will continue to go higher. That being said, the British pound also pulled back against the US dollar, so it is a little bit hesitant against the yen at this point. Either way, I have no interest in shorting this market, because qui...

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.