GBP/JPY Retreats from YTD Highs Near 187.00 as Japanese Yen ...
GBP/JPY Retreats from YTD Highs Near 187.00 as Japanese Yen Strengthens
The GBP/JPY pair stands at 184.00, indicating a decline of 1.45% from the previous Top, influenced by a dip in the US 10-year Treasury bond yield. GBP/JPY is positioning itself to challenge the key 187.00 level, driven by the potential for Yen intervention.
Notably, the decline in the US 10-year Treasury bond yield had a dampening effect on the USD/JPY pair, ultimately influencing the retreat of GBP/JPY.
Additionally, an observation of divergence on the RSI (Relative Strength Index) suggests the potential for a bearish setup to emerge in today's trading context. This observation warrants close monitoring as the trading day progresses.
Our preference
Short positions below 185.00 with targets at 183.50 & 183.00 in extension.
The GBP/JPY pair stands at 184.00, indicating a decline of 1.45% from the previous Top, influenced by a dip in the US 10-year Treasury bond yield. GBP/JPY is positioning itself to challenge the key 187.00 level, driven by the potential for Yen intervention.
Notably, the decline in the US 10-year Treasury bond yield had a dampening effect on the USD/JPY pair, ultimately influencing the retreat of GBP/JPY.
Additionally, an observation of divergence on the RSI (Relative Strength Index) suggests the potential for a bearish setup to emerge in today's trading context. This observation warrants close monitoring as the trading day progresses.
Our preference
Short positions below 185.00 with targets at 183.50 & 183.00 in extension.
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