Technical Analysis

GBP/JPY Narrowing

Typography

The GBP/JPY moves sideways on the short term around the 148.46 static support (resistance turned into support). The Yen increased versus the Cable today also because the Nikkei stock index plunged after the impressive rally. Remains to see what will really happen on the JP225 because a further drop will send the Yen much higher versus its counterparts. GBP/JPY will increase further if will stabilize above the 148.46 level.

Author: MultiBank Exchange Group Website: http://www.mexgroup.com
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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