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Another 15 year high for GBP/JPY this week
Yesterday the Pound lifted to its highest level of the year versus the Yen and its highest since 2008. The GBP/JPY reached 202.70 yesterday and later posted a new 15 year daily closing high, at 202.50. So, far today it has not yet surpassed that 202.70 high, but it is not far below the level this morning. The combination of the failure of the GBP/USD to get above resistance at 1.27 and the modestly lower price action in the USD/JPY so far this morning is why that is the case. The GBP/USD holding below 1.27 is something that was highlighted here earlier, but right now the Pound is knocking on that door again. Perhaps if it does get above that level it might just help to lift the GBP/JPY to yet another multiyear high? We shall see as the morning unfolds. The GBP/JPY is currently trading at 202.51
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