{"id":122999,"date":"2023-07-15T23:50:33","date_gmt":"2023-07-15T23:50:33","guid":{"rendered":"https:\/\/dripp.zone\/news\/gbp-jpy-rises-past-181-50-threatening-the-20-day-sma-crypto-news\/"},"modified":"2023-07-15T23:50:35","modified_gmt":"2023-07-15T23:50:35","slug":"gbp-jpy-rises-past-181-50-threatening-the-20-day-sma-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/gbp-jpy-rises-past-181-50-threatening-the-20-day-sma-crypto-news\/","title":{"rendered":"GBP\/JPY rises past 181.50, threatening the 20-day SMA\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>GBP\/JPY cleared most of its weekly losses trading near 181.80 pulled by rising British yields.<\/strong><\/li>\n<li><strong>Investors continue to look for clues regarding a potential BoJ YCC policy tweak.<\/strong><\/li>\n<li><strong>BoE&#8217;s tightening expectations have fallen, and markets now see rates peaking at 6.25%.<\/strong><\/li>\n<\/ul>\n<p>On Friday, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/gbpusd\">Sterling<\/a> traded with gains against the JPY, but it is still poised to close a weekly decline.  However, the GBP\/JPY downside potential may be limited while investors are looking for clues on whether the Bank of Japan (BoJ) will tweak its monetary policy in July.<\/p>\n<p>As for now, markets have already largely discounted a 50 basis point (bps) hike in the August 3 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/boe\">Bank of England<\/a> (BoE) meeting and foresee 25 bps hikes in September, November and in Q1 2024, which would see the policy rate peaking at 6.25% vs the 6.50% terminal rate expected at the beginning of the week. <\/p>\n<p>Despite tightening expectations falling, British bond yields are on the rise and lend support to the GBP.  The 2-year bond yield rose more than 1% to 5.19% while the 5-year rate to 4.58%, up by more than 1.50%, while the 10-year rate stands at 4.44%, seeing 0.80% increases.<\/p>\n<p>On the other hand, investors are looking for clues regarding the next Bank of Japan (BoJ) meeting in July.  Former bank official Hideo Hayakawa commented that &#8220;it is highly probable&#8221; that the bank will adjust the Yield Control Curve policy and that if they don&#8217;t, &#8220;it doesn&#8217;t make sense&#8221;. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">economic data<\/a> will continue modeling expectations, so traders will eye next week&#8217;s Trade Balance data from Japan from June to be reported on Thursday.<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY Levels to watch<\/h2>\n<p>Despite two consecutive gains days, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/forecast\">Outlook<\/a> is still negative for the pair. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/rates-charts\/indicators\">Indicators<\/a> gained some ground but still show weakness with the Relative Strength Index (RSI) near its midline while the Moving Average Convergence Divergence (MACD) prints red bars.  To confirm a recovery, the bulls must retake the 20-day Simple Moving Average (SMA) at 182.25.<\/p>\n<p>Support Levels: 181.00, 180.50, 179.00.<\/p>\n<p>Resistance Levels: 182.25 (20-day SMA), 182.50, 183.00.<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY Daily chart<\/h2>\n<\/p>\n<\/p>\n<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: GBP\/JPY cleared most of its weekly losses trading near 181.80 pulled by rising British yields. Investors continue to look for clues regarding a potential BoJ YCC policy tweak. BoE&#8217;s tightening expectations have fallen, and markets now see rates peaking at 6.25%. On Friday, the Sterling traded with gains against the JPY, but it is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,298,257,276,409,255,250,252,247,253,249,256,254],"class_list":["post-122999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-crosses","tag-cryptocurrency","tag-currencies","tag-gbpjpy","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122999","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=122999"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122999\/revisions"}],"predecessor-version":[{"id":123000,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122999\/revisions\/123000"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7199"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=122999"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=122999"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=122999"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}