GBP/JPY bounces up on risk appetite and approaches 194.20 resistance area

FXStreet
Updated
Mitrade
coverImg
Source: DepositPhotos

  • The Pound appreciates on risk appetite and nears two-week highs at 194.20.

  • The Yen loses ground with all eyes on BoJ's Ueda conference on Tuesday.

  • A confirmation above 194.20 would bring the four-month high, at 196.25 into focus.

Trump’s decision to pause tariffs on the EU intel on July 9 has boosted risk appetite on a light trading session on Monday, with UK markets closed for the Spring Bank holiday.
The de-escalation of the EU-US trade rift has soothed investors, wary of a severe blow to international trade, which would significantly slash the global growth outlook. The combined trade activity of the European Union and the US accounts for 30% of the global trade, and 43% of global GDP, according to data from the European Council.

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.

17482533545791

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

Safe assets suffer in risk-on markets

In the absence of relevant macroeconomic data in the UK and Japan, the positive sentiment is buoying the risk-sensitive Sterling, with the safe-haven Yen looking weak.
Later this week, Ueda’s press release on Tuesday and the advanced Tokyo CPI might provide further clues about the Bank of Japan’s monetary policy and provide further guidance for the Japanese Yen. In the UK, BoE Governour Bailey’s speech, due on Thursday, will be the highlight of the week.
The Pound is gaining about 0.6% so far today, reversing Friday’s losses and approaching the mid-May high, at 194.20. Beyond that, the focus will shift to the four.-month high, at 196.25.
On the downside, support is at last week’s lows, in the 192.00 area ahead of 190.35.

GBP/USD 4-Hour Chart

GBP/JPT 4-hour chart


* The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

goTop
quote
Do you find this article useful?
Related Articles
placeholder
EUR/JPY appreciates above 163.00 with the Yen retreating across the boardThe Euro is trading higher for the second consecutive day, still fuelled by the delay of Trump’s deadline to avoid 50% tariffs in the US, while the Yen declines alongside super long-term Japanese yields.
Author  FXStreet
11 hours ago
The Euro is trading higher for the second consecutive day, still fuelled by the delay of Trump’s deadline to avoid 50% tariffs in the US, while the Yen declines alongside super long-term Japanese yields.
placeholder
Forex Today: US Dollar rebounds after long weekend, focus shifts to mid-tier US dataThe US Dollar (USD) benefits from the improving risk mood early Tuesday, while trading conditions normalize following a three-day weekend in the US.
Author  FXStreet
12 hours ago
The US Dollar (USD) benefits from the improving risk mood early Tuesday, while trading conditions normalize following a three-day weekend in the US.
placeholder
USD/CAD bounces up from seven-month lows and approaches a previous support at 1.3760The US Dollar is showing marginal gains ahead of Tuesday’s European session opening.
Author  FXStreet
14 hours ago
The US Dollar is showing marginal gains ahead of Tuesday’s European session opening.
placeholder
USD/CHF Price Forecast: Bearish outlook remains in play below 0.8250The USD/CHF pair recovers some lost ground to near 0.8220 during the early European session on Tuesday. However, the potential upside for the pair might be limited amid the concerns over the mounting US national deficit.
Author  FXStreet
14 hours ago
The USD/CHF pair recovers some lost ground to near 0.8220 during the early European session on Tuesday. However, the potential upside for the pair might be limited amid the concerns over the mounting US national deficit.
placeholder
The dollar struggles due to Trump’s u-turn while Asian shares slide downAsian stocks slipped on Tuesday as the dollar headed for a fifth straight monthly loss, but Wall Street futures gained after United States President Donald Trump pushed back his plan to slap 50% tariffs on EU goods.
Author  Cryptopolitan
16 hours ago
Asian stocks slipped on Tuesday as the dollar headed for a fifth straight monthly loss, but Wall Street futures gained after United States President Donald Trump pushed back his plan to slap 50% tariffs on EU goods.
Real-time Quote