After recovering from a mid-week pullback, GBP/JPY scrambled back towards the 197.00 handle on Thursday.
GBP/JPY recovers to familiar highs as JPY recedes. Japanese GDP growth contracted faster than expected. Sterling traders looking ahead to next week’s UK CPI inflation. The pair regained ground after Japan’s Gross Domestic Product for the first quarter contracted faster than investors expected, further weakening the Japanese Yen . Japan reported a -0.5% contraction in Q1 GDP , a deeper growth pullback than median market forecasts of -0.4%.
GBP/JPY technical outlook The Guppy is back into chart paper near the 197.00 handle on Thursday after catching a technical bounce from the 200-hour Exponential Moving Average near 195.50. The pair fell in a near-term pullback after intense buying dragged the pair 3% higher from the last swing low into 191.50, but bulls are stepping back in to force the Yen lower against the GBP. GBP/JPY hourly chart GBP/JPY daily chart GBP/JPY Overview Today last price 196.89 Today Daily Change 0.
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