GBP/JPY pressing on 189.50 again

The Pound is making some further progress versus the Japanese Yen again just now. The GBP/JPY is pushing close to the 190 handle once more. The GBP/JPY touched 189.50 a couple of times on Tuesday but rejected a move above there. The Pound closed in the US last night at 189.01. The noted first correction level of the slide down from 208.11, to the low at 180.11 is at 190.80 and that is a 38.2% correction. There is still a good possibility this might be reached in due course, but at the same time not certain to do so. The GBP/JPY has just now touched that 189.50 level again a few moments ago. All the while caps the topside, as it has all week so far, there will be doubts on further gains. That remains to be seen. The GBP/JPY is currently trading at 189.47 and the reader is also informed that there will be no further updates after 10.30am GMT this morning owing to technical issues. That means no coverage over the US data, but if there is anything important further updates will follow later this evening.