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Earlier today we saw good rebound gains in the major Yen crosses, as the USD/JPY lifted towards 147.90 and the likes of the GBP/USD and EUR/USD held onto modest gains. Most notably the GBP/USD performed better because of the rise above 1.2760 in the GBP/USD and that was delivered by the noted drop back in the EUR/GBP today. Hence, the GBP/JPY rose above the previous rebound high (from the 180.11 low on Monday) at around 188.08, to set a new rebound high at 188.42. However, that has now given way to a fall below 187, as the GBP/USD drops back towards 1.2725 and that coincides with the fall back in the USD/JPY, just noted in the previous update. The GBP/JPY just now hit a session low at 186.48
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