GBP JPY

The long-awaited results from the Japan’s spring wage negotiations are winding down, and the results are generally what the BOJ wanted to see to exit its ultra-accommodative monetary policy. See the key levels to watch on USD/JPY, EUR/JPY, and GBP/JPY!

The UK spring budget is set to be released tomorrow. And if GBP/USD follows its general pattern around this budget, it could be in for a tough few days - starting from today.

USD/JPY is consolidating while EUR/JPY and GBP/JPY remain in healthy uptrends.

GBP/JPY is on the cusp of breaking to fresh multi-year highs ahead of key inflation and employment data from the United Kingdom and Japan, making this a pair to keep on the radar over the next 48 hours.

The US dollar and yen were the weakest FX majors during the Asian session, following reports of China stimulus and no change in policy from the BOJ. GBP/JPY has probed a key resistance level and crude oil shows the potential to extend yesterday's gains.

Disinflation is gripping Japan as seen in other advanced economies before it, underlining the difficulties facing the Bank of Japan (BOJ) in eradicating the deflationary mindset that has dogged the nation for decades.

GBP/JPY looks particularly strong, but both USD/JPY and EUR/JPY remain in clear bullish trends.

The Japanese yen has finally found some much needed support this week. It is all to do with the falls in global bond yields, and the unwinding of carry trades. US yields slumped earlier this week after US CPI fell more than expected, cementing expectations that the Fed (and other central banks) will no longer raise rates further

The market is likely to keep pushing the yen lower in the coming days and weeks until the BOJ takes decisive action to stem the bleeding.

The yen has rallied across the board over the last week+, but traders may now look to take profits on USD/JPY, EUR/JPY, and GBP/JPY ahead of the weekend...

Our view remains bullish on the GBP/USD outlook and the GBP/JPY outlook, but the latter now needs to break 181.00 resistance.

BOJ governor Ueda said that the central bank could cancel YCC and shrink their balance sheet, if their price targets are met in a 'sustainable, stable manner'.

Thanks to another 10% CPI inflation print, interest rate expectations are on the rise again in the UK. This is putting upward pressure in the yield spread between the UK and Japanese government bonds, boosting the GBP/JPY outlook.

The GBP/JPY has been supported by a double dose of bullish factors this week.

UK’s labour market tightened and wage pressures grew further, fueling bets that inflation could stay higher for longer...

Yen's growing strength weighs on all JPY pairs.

Another day, another handle conquered for USD/JPY. And whilst it flirts with 149 traders are questioning if 150 is up next.