GBP/JPY recovery gathers steam amid Asian stocks rebound
|A renewed risk-on wave appears to grip the markets amid a minor pull back seen in the Asian equities, offering much-needed respite to the cross in the GBP/JPY.
GBP/JPY recovers 1 big figure
Currently, GBP/JPY jumps +0.58% near fresh session highs of 150.71, extending rebound from three and a half years low struck yesterday at 149.21. The pound remains strongly bid against its American counterpart ahead of the European stocks, as a better sentiment towards risky assets reinforced the demand for GBP/JPY.
Further, the pound finds support from stalled selling in the UK benchmark 10-year Gilt yields, with the yields now trading flat around 1.145%, having moved-off record low hit at 1.115%.
Meanwhile, focus now remains on the sentiment on the European stock markets ahead of the UK jobs report due later this session. While FOMC decision is likely to hog the limelight this Wednesday.
GBP/JPY Levels to consider
The pair has an immediate resistance at 151 (round number), above which 151.95 (1h 100-SMA) would be tested. On the flip side, support is seen at 150.09 (daily pivot) that at 149.21 (round number).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.