GBP/JPY holds above 151.00 handle, near 2-month tops

Haresh Menghani FXStreet

• JPY weighed down by fading safe-haven demand on improving risk appetite.
• UK data provides an additional boost to GBP and supporting the bullish move.

The GBP/JPY cross built on last week's strong rebound from the very important 200-day SMA and is currently placed at 2-month tops, just above the 151.00 handle.

The cross continued gaining traction at the start of a new trading week and held in positive territory for the fifth consecutive session. A slight improvement in investors' appetite for riskier assets, as depicted by bullish trading sentiment around equity markets despite US-China trade tensions, weighed on the Japanese Yen's safe-haven appeal and was seen as one of the key factors driving the pair higher.

This coupled with a goodish pickup in the GBP demand, with the GBP/USD pair finally breaking through the 1.4100 handle on the back of upbeat UK Halifax HPI, provided an additional boost and further collaborated to the pair's strong bid tone through the early European session on Monday.

It would now be interesting to see if bulls are able to make it through the 151.25 supply zone, which if cleared might pave the way for an extension of the pair's near-term upward trajectory.

Technical levels to watch

Momentum beyond the mentioned hurdle is likely to get extended towards 151.70 horizontal resistance, above which the cross is likely to surpass the 152.00 handle and head towards testing 152.35-40 supply zone.

On the flip side, any meaningful retracement might continue to find support near mid-150.00s and is followed by the key 150.00 psychological mark, which if broken could drag the cross back towards the 149.00 handle.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

GBP/USD appears well offered near 1.3160

GBP/USD builds on Tuesday’s losses, although it now manages to pick up some pace and bounce off earlier multi-month troughs near 1.3140. The Greenback’s solid performance and continued political turmoil in the UK are keeping Cable under persistent pressure, with little sign of a meaningful recovery.

EUR/USD softens to near 1.1350 as Fed hike bets rise ahead of PCE inflation data

The EUR/USD pair declines to around 1.1355 during the early Asian trading hours on Thursday. The Euro weakens to its lowest level since June 2025 against the US Dollar as traders increase their bets on US interest rate hikes later this year. The US May Personal Consumption Expenditures inflation data will be the highlight on Thursday.

Gold struggles near YTD lows on hawkish Fed bets, bullish USD ahead of US PCE

Gold is seen consolidating around $4,000 during the Asian session on Thursday as bears pause following the overnight slump to the lowest level since November 2025. Despite easing inflationary concerns amid falling oil prices, elevated Fed rate-hike bets help the US Dollar preserve its recent strong gains to the highest level since May 2025. This might continue to undermine the non-yielding bullion as the focus shifts to the release of the US PCE Price Index.

Strategy MSTR shares drop to two-year low as Bitcoin dip below $60K

The common shares of Strategy fell below $100 on Wednesday for the first time since March 2024, extending losses as Bitcoin's prolonged decline continues to weigh on investor perceptions of the company's leveraged crypto strategy. The company's MSTR stock closed trading at $94, reflecting a 9.3% decline.

US-Iran talks: The next 60 days will decide where Oil prices go next

Oil markets received some encouraging news after weeks of rising tensions in the Middle East. But let’s not get ahead of ourselves: we’re far from victory, and markets just seem to have priced out the worst-case scenario. The US and Iran have reportedly made "substantive progress" in talks in Switzerland and agreed on a framework for working toward a broader deal within 60 days.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.