Forex: GBP/JPY pressing on fresh 8-month highs above 132.50
FXstreet.com (Barcelona) - Helped on Yen weakness, USDJPY at fresh weekly highs, while GBP seems flat for last 2 days around the 1.61 round figure, immersed in this recent 10 year low volatility environment, GBPJPY is pressing the upper end of these last 2 weeks, last at fresh session highs 132.80. The cross is higher by some +0.57% for the week.
Later on, MPC rate statement around 12:00 GMT is most important risk event for the Pound in next hours, with no changes expected. Current GBPJPY quotes, barely above previous Friday highs, make highest levels in the cross since late March. Local share markets show mixed results, but Nikkei index is higher by +0.76% at the time of the lunch break in Tokyo, again above the 9500 points key mark, which is helping Yen weakness.
Immediate resistance to the upside for GBPJPY shows at recent session/fresh 8-month highs 132.84, followed by April 02 highs at 133.25, and March 21 highs at 133.48. To the downside, nearest term support lies at yesterday's highs 132.68, followed by previous session lows/Monday's highs at 132.50, and yesterday's lows/past Thursday's highs at 131.95/87.
Later on, MPC rate statement around 12:00 GMT is most important risk event for the Pound in next hours, with no changes expected. Current GBPJPY quotes, barely above previous Friday highs, make highest levels in the cross since late March. Local share markets show mixed results, but Nikkei index is higher by +0.76% at the time of the lunch break in Tokyo, again above the 9500 points key mark, which is helping Yen weakness.
Immediate resistance to the upside for GBPJPY shows at recent session/fresh 8-month highs 132.84, followed by April 02 highs at 133.25, and March 21 highs at 133.48. To the downside, nearest term support lies at yesterday's highs 132.68, followed by previous session lows/Monday's highs at 132.50, and yesterday's lows/past Thursday's highs at 131.95/87.
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