GBP/JPY is pulling back at the start of the new week but a breakout from bullish wedge pattern seen on the charts remains valid and could still bode bullish longer-term.
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The Pound-to-Yen exchange rate is attempting to break out of a falling wedge pattern. If it is successful it will probably signal the start of a strong new move higher for the pair.
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The Japanese Yen fell midweek after Japan's central bank disappointed investor expectations by not taking a more decisive move to dismantle the country's massive stimulus programme.
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The Pound is expected to make further gains against the Yen in the week ahead stretching its run higher a little further.
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The fad for politicians to comment on monetary policy continued on Friday after Japan's prime minister Shinzo Abe weighed in, saying the Bank of Japan's ultra loose stance didn't have to "con…
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