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GBP/JPY Price Analysis: Bulls ready to test 186.00 in the short term
The Pound Sterling (GBP) gained ground against the Japanese Yen (JPY) amid risk aversion, which triggered flows toward the safe-haven status of the Greenback (USD). Hence, strength in the USD/JPY pair weighed on the JPY, which remained soft against most G8 currencies. The GBP/JPY exchanges hands at 185.58, almost flat as the Asian session begins. The daily chart portrays the pair as upward biased, though it still needs to clear the next resistance seen at the August 30 high at 186.06. An upside break would expose the year-to-date (YTD) high of 186.76 before the GBP/JPY tests 187.00. Conversely, downside risks emerge ... (full story)