{"id":161800,"date":"2023-09-24T10:11:42","date_gmt":"2023-09-24T04:41:42","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=161800"},"modified":"2023-09-24T10:11:42","modified_gmt":"2023-09-24T04:41:42","slug":"gbp-jpy-trying-for-a-break-below-181-50-heading-into-the-friday-close-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/gbp-jpy-trying-for-a-break-below-181-50-heading-into-the-friday-close-crypto-news\/","title":{"rendered":"GBP\/JPY trying for a break below 181.50 heading into the Friday close &#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 trading into the 181.50 handle, on the low side for the week.<\/strong><\/li>\n<li><strong>The Pound Sterling lost ground across the board this week after a dovish twist from the BoE.<\/strong><\/li>\n<li><strong>The BoJ continues to maintain their easy monetary policy stance.<\/strong><\/li>\n<\/ul>\n<p>The GBP\/JPY is ticking into the\u00a0south side of the\u00a0181.50 handle after the Pound Sterling (GBP) failed to recover any meaningful ground from Thursday&#8217;s backslide. The Guppy is down almost a full percentage point this week.<\/p>\n<p>The Bank of England (BoE) struck a notably dovish tone this Thursday, standing pat on its benchmark interest rate after inflation data for the UK came in much softer than expected earlier this week. The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/boe\">BoE<\/a> is holding its reference rate at 5.25% for the time being, and it&#8217;s increasingly looking like a &#8216;none and done&#8217; scenario for the UK&#8217;s rate hike cycle.<\/p>\n<p>The Bank of Japan (BoJ) also held its main policy rate, maintaining a negative rate regime\u00a0at -0.1%. The BoJ is keeping steady on its hyper-easy monetary policy mechanisms, and the BoJ is determined to try and keep Japanese inflation up above the 2% mark.<\/p>\n<p>Japanese inflation is currently riding on the high end of policymakers&#8217; target level, but Japanese inflation is broadly expected to plummet in the coming months, and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/macroeconomics\/central-banks\/boj\">BoJ<\/a> is not in a rush to start reversing their negative rate policy until the central bank is assured that inflation will remain above their minimum target.<\/p>\n<p><strong>Read more:<\/strong><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/uk-interest-rate-decision-preview-boe-hike-hangs-in-the-balance-as-inflation-cools-202309210540\">BoE holds interest rate steady at 5.25% in split vote<\/a><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/bojs-ueda-could-consider-policy-change-when-achievement-of-2-inflation-is-in-sight-202309220707\">BoJ\u2019s Ueda: Could consider policy change when achievement of 2% inflation is in sight<\/a><\/p>\n<p>The economic calendar for the upcoming week is looking sparsely-populated through the first half of the week, and the only notable release on the data docket will be the BoJ&#8217;s meeting minutes on Tuesday, which will reveal the Japanese central bank&#8217;s inner monologue on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">interest rate decision<\/a> that just passed.<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY technical outlook<\/h2>\n<p>The GBP\/JPY failed to hold onto rebound gains, etching in a high of 182.30 on Friday before settling lower, looking to establish a break of 181.50 to close out the week&#8217;s trading session.<\/p>\n<p>The pair remains firmly bearish below the 200-hour Simple Moving Average (SMA) which is currently pricing in resistance from 183.00.<\/p>\n<p>Daily candlesticks see the Guppy waffling towards the 100-day SMA near the 180.00 major handle, and the pair is down almost 3% from August&#8217;s peak near 186.70.<\/p>\n<p>Investors will be keeping an eye out for a sustained bearish push into the 100-day SMA, where a recovery rally could see a rebound back into the 34-day Exponential Moving Average that is currently capping off upside potential and sitting just north of near-term highs near 183.30.<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY daily chart<\/h2>\n<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY technical levels<\/h2>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: GBP\/JPY trading into the 181.50 handle, on the low side for the week. The Pound Sterling lost ground across the board this week after a dovish twist from the BoE. The BoJ continues to maintain their easy monetary policy stance. The GBP\/JPY is ticking into the\u00a0south side of the\u00a0181.50 handle after the Pound Sterling [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,712,367,248,251,246,257,409,255,250,252,247,253,249,256,254],"class_list":["post-161800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boe","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","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\/161800","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=161800"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/161800\/revisions"}],"predecessor-version":[{"id":161801,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/161800\/revisions\/161801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/1955"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=161800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=161800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=161800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}