GBP/JPY - Will The Bears Take Charge And Force GBPJPY Back Down To 150.00
GBPJPY experienced a rebound from the multi-month lows, breaking back above 145.00 providing a bullish weekly closure.
As the pair stalls at Daily resistance, we must consider the possibility of a price declining back into the 150.00 regions over the next few days. Right now it is relatively difficult to predict the pairs next movement as there is also the possibility of a bull run/continuation up into the regions of 147.00 -147.50.
Where do I see GBPJPY heading next? Well, due to the significant pressures forcing the pound pairs down... 140.00 is a clear cut projection. More specifics will follow Tuesday afternoon.
Safe haven flows are the thing to watch for Yen. Trump is having a negative effect on the stock market with his tariffs and flow of money away from the EU had moved into safe-haven assets such as treasuries USDJPY fell significantly in the aftermath and then the strong NFP result sent it right the way back up.