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20 Apr 2015
GBP/JPY hovering slightly below 178.00
FXStreet (Córdoba) - The pound was able to erase losses against the yen amid risk appetite in US markets. GBP/JPY is attempting to rise back above 178.00 after recovering from early losses.
On Asian hours the pair bottomed at 177.18 the lowest level since last Thursday but then rebounded and climbed to 177.85. After the beginning of trading in Wall Street rose further and reached 178.00.
GBP/JPY consolidating after last week’s rally
So far the pair was unable to rise further but still holds a bullish tone in the short term, currently trades around 177.90/95, slightly above Friday’s closing price, supported by a decline of the Japanese currency in the market.
GBP/JPY is consolidating, after advancing sharply last week. Price bottomed a week ago at 174.87 and from there rose almost 400 pips, hitting on Friday 178.75 (1-week high).
On Asian hours the pair bottomed at 177.18 the lowest level since last Thursday but then rebounded and climbed to 177.85. After the beginning of trading in Wall Street rose further and reached 178.00.
GBP/JPY consolidating after last week’s rally
So far the pair was unable to rise further but still holds a bullish tone in the short term, currently trades around 177.90/95, slightly above Friday’s closing price, supported by a decline of the Japanese currency in the market.
GBP/JPY is consolidating, after advancing sharply last week. Price bottomed a week ago at 174.87 and from there rose almost 400 pips, hitting on Friday 178.75 (1-week high).