News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
British Pound Targets Lows versus Japanese Yen

British Pound Targets Lows versus Japanese Yen

David Rodriguez, Head of Product
ssi_gbp-jpy_body_Picture_12.png, British Pound Targets Lows versus Japanese Yen

GBPJPY – Forex trading crowds continue to buy into British Pound weakness against the Japanese Yen, and our sentiment-based trading strategies continue selling into GBPJPY declines. We see little reason to call for any significant short-term reversal as the Japanese Yen itself continues to strengthen across the board.

Weekly GBPJPY highs of ¥126.45 offer clear short-term resistance and max risk on short positions. The pair has recently found support at its 200-day Simple Moving Average at ¥124.20, but a break lower sees little in the way of major support until key congestion levels at ¥122.50 and ¥120.00.

How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.

--- Written by David Rodriguez, Quantitative Strategist for

To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.