GBP/JPY PRICE FORECAST
GBP/JPY PRICE FORECAST
The GBP/JPY currency pair has risen above the 193.00 level, reaching approximately 193.25 during the early European session on Friday.
This upward movement is attributed to a weakening Japanese Yen (JPY) amid expectations that the Bank of Japan (BoJ) may pause its interest rate hikes.
The GBP/JPY pair has strengthened to around 193.25, marking a significant rise from previous levels.
The Bank of Japan has maintained its short-term interest rate at 0.5% and has downgraded its economic growth forecasts due to the impact of U.S. tariffs and weakening exports.
The BoJ's cautious approach has led to a weakening of the Japanese Yen, making the GBP more attractive to investors.
The Relative Strength Index (RSI) for GBP/JPY is approaching overbought territory, suggesting that the pair may be due for a pullback.
