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British Pound Turns Higher versus the Japanese Yen

British Pound Turns Higher versus the Japanese Yen

David Rodriguez, Head of Product
British Pound Turns Higher versus the Japanese Yen

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GBPJPY Choppy price action in the GBP/JPY has led to similarly choppy moves in retail FX sentiment, but a recent shift towards crowd selling suggests the Sterling may continue higher versus the Yen. Targets are now at recent spike-highs starting near ¥195 and extending through major peaks closer to ¥196.

See next currency section: EURUSD - Euro Forecast to Hit Further Lows on Major Sentiment Shift

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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

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