Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

GBP/JPY: Grappling with 200-hour MA in Asia, Brexit uncertainty lingers

  • The 200-hour moving average (MA) is proving a tough nut to crack for GBP bulls.  
  • UK's PM Theresa May is reportedly facing pressure at home to avoid the prospect of long Brexit delay. The EU, however, has less appetite for short extensions.
  • BOJ's Kuroda talked dovish on interest rates earlier today but failed to put a bid under the JPY crosses.

GBP/JPY is currently reporting moderate losses at 145.48, having faced rejection at the 200-hour MA line of 145.66 earlier today.

The lingering Brexit uncertainty is likely keeping Sterling bulls at the bay for the third straight day. The UK Prime Minister Theresa May is reportedly facing intense cabinet pressure to avoid the prospect of a long Brexit delay on the belief that a last-minute cross-party talk is unlikely to produce anything concrete on departure plan.

The European Union (EU), meanwhile, has less appetite for short extensions. Therefore, a no-deal sentiment is growing ahead of the upcoming April 12 Brexit deadline, keeping the GBP under pressure.

Bank of Japan (BOJ) Governor Kuroda was on the wires earlier today stating that the central bank will keep expanding the monetary base until consumer inflation stably exceeds 2 percent and will maintain both short and long-term interest rates at the current very low levels for an extended period.

So far, however, Kuroda's dovish comments have failed to lift JPY crosses. Looking forward, GBP/JPY may extend the decline on Brexit uncertainty.

Technical Levels

 

WTI Technical Analysis: Bulls looking to test the 61.8% Fibo up in the 63.70s

Read more Previous

Japan Trade Balance - BOP Basis registered at ¥489.2B above expectations (¥-891.5B) in February

Japan Trade Balance - BOP Basis registered at ¥489.2B above expectations (¥-891.5B) in February
Read more Next