Expectations To Plunge Down, GBP / JPY Rises Again

 For fans of the GBP / JPY currency pair, it will definitely add excitement for traders with the exciting movements displayed today.

With some important issues hovering in the market affecting the Pound and Yen trading, it can be seen that prices are moving up and down drastically reacting to developments in the market.

Brexit talks between the European Union (EU) and the UK have had a significant impact on the Pound Sterling since yesterday. In today’s trading, the Pound moved weakly in the Asian session as investors still did not place confidence in Brexit negotiations.

However, in the European session, the Pound jumped again after UK Prime Minister Boris Johnson began intervening and this was his first involvement since June.

He will hold talks with European Commission President Ursula von der Leyen tomorrow.

On the GBP / JPY chart, prices initially saw a drastic decline following the strengthening of the Yen as investors began to be cautious after President Donald Trump's report confirmed positive Covid-19.

Reaching a close to 135.00, the price started to rise again in the European session to 136.00.

Prices start to slow and test the Moving Average 50 (MA50) barrier level on the 1 hour price movement on the GBP / JPY chart.

The continuous price increase is expected to re-test the resistance zone at the height reached yesterday around 137.00.

However, if the price returns again, the support level at 135.00 will be tested and if the price manages to break lower, the RBS zone (resistance become support) 134.400 will be the focus of the price.