The GBP/JPY exchange rate has reached a critical area according to analyst Richard Perry of Hantec Markets. Key to the outlook is how the pair resolves a 138.85/139.7 band of resistance.
Read more: Pound-Yen Rate Reaches Important Resistance
The Japanese Yen was wounded and the outlook for it darkened on Tuesday after the government announced a 'lockdown' that will impact more than half the economy at a time when demand for safe-haven currencies is falling due to a lesser spread of the coronavirus in other major economies.
Read more: Japanese Yen Outlook Darkens as Virus Gains Momentum Locally and Safe-haven Demand Ebbs
The Pound continued a week long decline against the Yen Tuesday and is tipped for further losses over the coming days as a toxic cocktail of coronavirus and Brexit risks take their toll and the safe-haven Japanese unit shines.
Read more: Japanese Yen to Keep Sterling Under Pressure as Safe-havens Rule Roost
The Japanese Yen is leading the pack ahead of the weekend, with the currency advancing against all its major peers amidst an ongoing liquidation of equity holdings in the face of the coronavirus outbreak and further gains are possible says a major Japanese bank.
Read more: MUFG Favour Stronger Japanese Yen
A sharp sell-off in the Japanese Yen looked set to enter a second day amidst an apparent sudden shift in investor perceptions towards the Japanese economy and its currency.
Read more: Japanese Yen Sell-Off Extends with the Bank of Japan Standing Powerless to Assist an Economy...