logo |

News

    Home   >     Industry    >     Main body

    GBP/JPY Price Forecast – British Pound Continues Grind Higher

    Abstract:The British pound continues to grind higher against the Japanese yen, as we are looking at trying to get towards the ¥142.50 level.

      The British pound has tried to rally a bit during the trading session on Friday, as the market continues to bang up against the ¥141.50 level, on its way towards ¥142.50 level. All things being equal, this is a market that I do think breaks out given enough time, but it is going to be noisy to say the least, especially as the British economy is locked down at the moment. Nonetheless, this is a “risk on” type of set up, and people will of course look at it as such.

      GBP/JPY

      Market participants continue to see a lot of volatility going forward, but it should be noted that the “reflation trade” is the narrative at the moment, and therefore people will be looking to get involved in higher beta markets such as this one. Having said that, I do think that it is probably a better trade to be involved in something like AUD/JPY, simply because you can mitigate the issues with the United Kingdom. Nonetheless, I still think that this is a market buyers will come in and start picking up on dips, based upon value and an overall “fear of missing out” mentality. The 50 day EMA underneath offer support, and I think will be closely followed by traders.

      Underneath that area we also have the 200 day EMA which is closer to the ¥137.50 level. I consider this to be the “floor in the market” at the moment, and I certainly would not be a seller until we break significantly below there. This has been a grind, but you can say that about the British pound against almost all currencies.

    Latest News

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    United States Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.