GBP/JPY closes week above LT key level of 163.52; bears running for cover

FXstreet.com (Barcelona) – GBP/JPY posts a convincing weekly close above long-term “correction support” at 163.52. Technicians now call the GBP/JPY chart an ideal “buy the dips” chart.

GBP/JPY traders waiting for Kuroda speech and British data

GBP/JPY traders will continue to ride the momentum train higher unless the Bak of Japan’s Kuroda surprises everyone with hawkish talk when he speaks shortly. Later in the session, British mortgage approvals and lending data may have an influence on the cross.

Technical outlook for GBP/JPY

Technicians say that GBP/JPY has convincingly broken out (on a daily and now weekly basis) …read more