Studies of the GBP/JPY charts suggest the pair has probably established a new short-term trend which is biased to extend over the near-term.
Read more: Pound-Yen Rate's Young Uptrend to Extend Suggest Technical Studies
Studies of the GBP/JPY charts suggest the pair will continue to decline in the very short-term.
Read more: Pound-Yen Rate in Free Fall, Major Support at 130.00 Could Arrest Declines
There is a strong possibility the GBP to JPY exchange rate will continue this decline to perhaps 131.25 where support will kick in.
Read more: Pound-Yen Rate Eyes Return to Midpoint of Previous Rally
The Japanese Yen is rising from increased safe-haven flows as a global stock market rout takes hold, with analysts at investment bank Morgan Stanley saying they see the trend of appreciation accelerating as domestic investors take out further currency hedges.
Read more: Japanese Yen to Rise Further on Safety Flows and Increased FX Hedging
GBP/JPY in short-term uptrend after basing and more upside is likely, on condition recent highs are breached.
Read more: Pound-Yen Rate's Pullback hasn't Killed the Trend