GBP/JPY Forecast – British Pound Pulled Back Against the Japanese Currency

GBP/JPY Forecast – British Pound Pulled Back Against the Japanese Currency

Source: EODHD - https://finance.yahoo.com/news/gbp-jpy-forecast-british-pound-161436675.html
Published: Nov 17, 2023 11:14 AM

GBP/JPY Forecast Video for 20.11.23 British Pound vs Japanese Yen Technical Analysis The British pound has fallen against the Japanese yen as the markets continue to experience a lot of volatility. The ¥185 level underneath will continue to be a major support level, and I think it is probably only a matter of time before buyers jump in and take advantage of “cheap British pounds.” Overnight, the Bank of Japan Gov. Ueda suggested that the Japanese would start considering getting rid of yield curve control but quite frankly that seems to be very unlikely. He continues to try to jawbone the markets occasionally, but at the end of the day is very difficult to think that the Japanese can handle t...

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.