Retraces from four-month high above 196.50

By: bitcoin ethereum news|2025/05/15 00:00:18
0
Share
copy
GBP/JPY retraces to near 194.45 from the four-month high of 196.50 as the Japanese Yen outperforms. BoJ’s Uchida expressed confidence in more interest rate hikes ahead. The UK economy is expected to have grown strongly by 0.6% in the January-March period. The GBP/JPY pair corrects to near 194.45 during European trading hours on Wednesday from its four-month high of 196.40 posted earlier in the day. The cross retraces sharply as the Japanese Yen (JPY) strengthens across the board after comments from Bank of Japan (BoJ) Deputy Governor Shinichi Uchida indicated that hopes of further interest rate hikes are still alive despite global economic uncertainty in the wake of tariffs announced by United States (US) President Donald Trump. Japanese Yen PRICE Today The table below shows the percentage change of Japanese Yen (JPY) against listed major currencies today. Japanese Yen was the strongest against the Australian Dollar. 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 Japanese Yen from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent JPY (base)/USD (quote). Japan’s underlying inflation and medium- to long-term inflation expectations are likely to temporarily stagnate. But even during that period, wages are expected to continue rising as Japan’s job market is very tight, Uchida said on Tuesday, Reuters reported. Meanwhile, the Pound Sterling (GBP) trades calmly ahead of the flash United Kingdom (UK) Q1 Gross Domestic Product (GDP) data, which will be released on Thursday. The UK economy is estimated to have expanded at a robust pace of 0.6%, compared to 0.1% growth seen in the last quarter of 2024. On the monetary policy front, the Bank of England (BoE) is expected to reduce interest rates further as the UK labor market has cooled down. The Office for National Statistics (ONS) reported that the ILO Unemployment Rate accelerated to 4.5%, as expected, from 4.4% in the three months ending February. In the same period, the economy added 112K fresh workers, significantly lower than the prior release of 206K. GBP/JPY struggles to extend its upside above the horizontal resistance plotted from the March 27 high of 196.00. However, the outlook of the cross is still bullish as the 20-day Exponential Moving Average (EMA) slopes higher, which trades around 192.32. The 14-day Relative Strength Index (RSI) retraces to near 60.00 from 67.00. A fresh bullish momentum would emerge if the RSI holds above the 60.00 level. The pair could extend its upside to near the January 7 high of 198.26 and the psychological level of 200.00 after breaking above the four-month high of 196.40. On the flip side, a downside move by the pair below the May 6 low of 190.33 will expose it to the March 11 low of 188.80, followed by the February 7 low of 187.00. GBP/JPY daily chart Economic Indicator Gross Domestic Product (QoQ) The Gross Domestic Product (GDP), released by the Office for National Statistics on a monthly and quarterly basis, is a measure of the total value of all goods and services produced in the UK during a given period. The GDP is considered as the main measure of UK economic activity. The QoQ reading compares economic activity in the reference quarter to the previous quarter. Generally, a rise in this indicator is bullish for the Pound Sterling (GBP), while a low reading is seen as bearish. Read more. Source: https://www.fxstreet.com/news/gbp-jpy-price-forecast-retraces-from-four-month-high-above-19650-202505141128

You may also like

How to Trade Crypto on Mobile Browser & Win LALIGA Tickets (2026 Guide)

Discover how AI automation, natural language trading, and mobile browser trading platforms are shaping automated trading in 2026. Join the WEEX live trading event for early access and rewards like LALIGA VIP tickets.

Connecting encryption, TradFi, and payments, is Gate completing the final puzzle of the "super APP"?

Why is it said that TradFi is not a short-term narrative?

a16z Crypto Operating Partner: Wall Street is undergoing its biggest infrastructure upgrade in 30 years

What is currently happening is the largest infrastructure upgrade in the capital market since the rise of electronic trading thirty years ago.

a16z Crypto's latest research: What is the key to the large-scale application of DeFi?

The widespread adoption of on-chain financial applications still faces an invisible barrier: the lack of transaction order certainty. Under a single leader architecture, nodes can delay, censor, or even front-run user transactions, thus completely distorting the game among market makers, bidders, an...

Founder of Delphi Labs: My observations and feelings about the AI ecosystem in China in two weeks

Delphi Labs co-founded a deep observation of China's AI ecosystem: hardware manufacturing is quietly winning the global war at an astonishing speed, but the software sector is mired in an overvaluation bubble and the homogenization of founders.

AI Seating Chart Released | Rewire News Morning Brief

Musk and Ultraman are not above

Popular coins

Latest Crypto News

Read more