GBP JPY Fundamental Analysis
8/4/2016 1:07:30 PM
The GBP/JPY cross expands its unstable changes into Europe, having failed once more to take out a strong persistence placed ahead of 135.20 region. GBP/JPY follows USD/JPY recoil. Now, GBP/JPY trades 0.13% higher at 135.09, trying hard to expand further than 135.30 levels. The cross in the GBP/JPY staged a recoil from session lows in sync with the USD/JPY pair, after BOJ deputy governor’s comments on the monetary policy caused a fresh rally in the JPY across the board. Though, the rate failed to maintain at higher levels among fresh selling seen in the cable, as investors turn watchful and take profits off the table ahead of the BOE monetary policy decision and inflation report release. The pair has an immediate persistence at 136, above which 136.50 would be tested. On the other hand, support is seen at 134.50 that at 133.90.
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