8 May 2015
GBP/JPY: A rocket to the moon; burners fail at 184.90
FXStreet (Guatemala) - GBP/JPY is currently trading at 184.25 with a high of 184.92 and a low of 182.50.
GBP/JPY rallied over two big figures on the release of the shock exit polls that have the Conservative party winning 316 seats in first estimates and well off the 275-280 seats they were tracking in early polls. However, there is margin for error in there first results and we will need to wait to the early hours of around 3-5GMT.
Meanwhile, we will have the BJ minutes and look forward to the Nonfarm Payrolls tomorrow while the Yen is pushed back yet again towards the 120 handle. GBP/JPY RSI is in overbought territory but remains better bid and the big threat actually comes in EUR/GBP glaring at the 55 DMA to the downside, and a confirmation on a clear victory could send Sterling even higher.
GBP/JPY rallied over two big figures on the release of the shock exit polls that have the Conservative party winning 316 seats in first estimates and well off the 275-280 seats they were tracking in early polls. However, there is margin for error in there first results and we will need to wait to the early hours of around 3-5GMT.
Meanwhile, we will have the BJ minutes and look forward to the Nonfarm Payrolls tomorrow while the Yen is pushed back yet again towards the 120 handle. GBP/JPY RSI is in overbought territory but remains better bid and the big threat actually comes in EUR/GBP glaring at the 55 DMA to the downside, and a confirmation on a clear victory could send Sterling even higher.