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Major Yen crosses on the rebound today -check out the GBP/JPY

Since the last update here, the USD/JPY has now vaulted that 156 handle and lifted to a high so far at 156.18. The corresponding move in the major Yen crosses has seen rebounds unfold across all of those, as the risk dynamic improves from this time yesterday morning. So, the EUR/JPY is pushing back towards 170 and the GBP/JPY is lifting towards 200. The CAD/JPY is higher too and of course all of these got smashed yesterday. The GBP/JPY fell from above 200, to below 197.25 before later closing in the US at 197.80. Well, it has managed to rise just above 199.50 this morning and that is actually quite impressive. The high seen so far has been set at 199.52. However, it remains to be seen, if the Pound can recapture the 200 handle at some point today. The GBP/JPY is currently trading at 199.45 
 

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