The GBP/JPY cross manages to find support above the 180.00 level during the early European session on Wednesday. The downtick of the pair is supported
by the fear of FX intervention by Japanese authorities. The cross currently trades around 180.13, gaining 0.09% on the day.while mentioning that it's normal for authorities not to comment on whether they intervened or not. Additionally, Japan’s Chief Cabinet Secretary Hirokazu Matsuno said on Monday that he will continue to take appropriate steps on FX, but still have no comment on whether Japan intervened in the FX market.
On the downside, 180.00 acts as an initial support level for the cross. Any decisive break below the latter will see a drop to the lower limit of the Bollinger Band at 179.43, en route to 178.85 . If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/JPY trading steady near 180.00 after sinking nearly 300 pips, BoJ intervention rumoredThe GBP/JPY got completely shredded early Tuesday, plummeting nearly 300 pips inside sixty seconds to just shy of 178.00. Markets are broadly assuming
Read more »
GBP/JPY Price Analysis: Advances to 184.00 as market sentiment improvesThe GBP/JPY pair falls back after the S&P Global reported a nominal improvement in the United Kingdom’s Manufacturing PMI for September. The economic
Read more »
British Pound Technical Outlook: GBP/USD, GBP/JPY May Fall as Sterling Remains PressuredFrom a technical perspective, the British Pound is appearing increasingly vulnerable to the US Dollar and Japanese Yen. Will GBP/USD and GBP/JPY continue lower from here?
Read more »
GBP/JPY looking for support from 181.40 as Sterling falls back, Yen gainsThe GBP/JPY has declined 125 from Monday's peak near 182.25 as the Pound Sterling (GBP) swoons against the safer Japanese Yen (JPY). Broader market se
Read more »
Gold Price Forecast: XAU/USD remains depressed near multi-month low, just above $1,820 levelGold price (XAU/USD) prolongs its recent well-established downtrend for the seventh successive day and drops to the $1,820 area, its lowest since Marc
Read more »
GBP/USD Price Analysis: Languishes near seven-month low, 38.2% Fibo./just above mid-1.2000sThe GBP/USD pair struggles to register any meaningful recovery and languishes near its lowest level since March 16, around the 1.2050 area touched the
Read more »