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GBP/JPY pressing against 152.85; buyers giving up?

FXstreet.com (Barcelona) – GBP/JPY has expanded its short term momentum further south, currently resting at 152.85 session low after the topside failure seen earlier on Monday just shy of 155.00.

Broad-based Yen strength on reports that the U.S. may be planning a military strike to the Syrian regime has been so far the main theme in Asia, with the market now letting the dust settle after an intense first hour of price action in Tokyo.

From a technical perspective, GBP/JPY remains trapped in a 148.00-154.00 range since early April, which includes a failed two week-attempt to hold above the 155.00 …read more