GBP/JPY continues march higher as Yen continues to deflate, tests above 200.00

GBP/JPY rose back above 200.00 as Yen weakness remains. BoJ statements bought little reprieve from broad-market Yen selling. Japanese Tokyo CPI inflation due later this week. Bank of Japan policymakers, including BoJ Governor Kazuo Ueda and BoJ Deputy Governor Shinichi Uchida, found very little traction in markets, and a reprieve in Yen short pressure was brief in early Monday trading.

GBP/JPY technical outlook The Guppy continues to march up the charts and the pair is threatening to break into fresh multi-decade highs above 200.60, a level reached in late April. The pair fell to a near-term low below 192.00 after a set of suspected “Yenterventions”, but broad-market Yen weakness continues unabated. GBP/JPY has gained ground in all but three of the last 15 consecutive trading days. GBP/JPY hourly chart GBP/JPY daily chart GBP/JPY Overview Today last price 200.

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