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GBP/JPY closing in on 195.88

Several weeks ago an update here noted the outlook for the GBP/JPY to potentially rise towards a price point where it had peaked a long time ago. That was at 195.88 and it was the high for the pair back in 2015. Well, it is not far away that level now today. Granted it has not been a straight line higher, but it never is. The failure of the BOJ to shift monetary policy is a key driver for this further rise and in truth it was always going to be the USD/JPY that dictated; whether or not the GBP/JPY reached this level. The prospect of the Pound advancing to test 200 was also highlighted here before and if 195.88 does get taken out, it sure be on the radar. The BOJ governor, Ueda  is right now debriefing the press after the BOJ policy decision earlier today. His comments are pushing the Yen lower again, after the USD/JPY dipped below 156. He is sending some rather mixed messages on the exchange rate just now, but the upshot is not yet supportive of the currency. The inflow into the UK is front and centre right now, when it comes to the GBP/JPY. That has lifted to 195.42 a moment ago and so that 195.88 level is very close by now 

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