GBP/JPY: Bulls conquer 140 handle amid fresh JPY selling

The rebound in the GBP/JPY cross picks-up pace in the European session, with the bulls sending the rate back above 140 handle.

GBP/JPY awaits Fedspeak, BOE MPC Haldane

The GBP/JPY pair now advances +0.25% to trade near session tops of 140.06, extending the break higher from 139.30 region. The cross staged a solid comeback and rallied hard in Europe, initially, as the stops in cable got triggered above 1.2410 levels.

Thereafter, a fresh bout of selling interest seen in the Japanese yen against its American counterpart, also added to the renewed uptick in GBP/JPY. The USD/JPY pair accelerated its recovery from near 112.50 to now flirt with daily highs of 112.77, as the bulls ignored softer tones seen around the European indices.

Markets now await the FOMC member Evans speech, followed by a speech from the BOE MPC member Andy Haldane scheduled later in the NA session for fresh impetus on the spot.

GBP/JPY: Technical Levels                                                                               

Higher side: 140.23 (March 16 high), 140.50/57 (Mar 10 & 11 high), 140.90 (50-DMA)

Lower side: 139.58/45 (daily pivot/ classic S1), 139/138.99 (round number/ Mar 9 low), 138.50/38 (psychological levels/ Mar 8 low)

    1. R3 139.94
    2. R2 139.83
    3. R1 139.68
  1. PP 139.57
    1. S1 139.43
    2. S2 139.32
    3. S3 139.17


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 securities. 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 Forex 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.