The GBP/JPY cross struggles to capitalize on the previous day's goodish intraday recovery of over 150 pips from the 181.15 area, or over a one-week lo
GBP/JPY is seen oscillating in a narrow trading band during the Asian session on Tuesday. Traders now await the release of the UK wage growth data for some meaningful impetus. The BoJ’s dovish stance might continue to undermine the JPY and lend support to the cross. w and oscillates in a narrow range during the Asian session on Tuesday. Spot prices currently trade just above mid-182.00s as traders now look to the UK wage growth data for a fresh impetus.
The dovish outlook, along with a generally positive risk tone, might continue to undermine the safe-haven Japanese Yen , suggesting that the path of least resistance for the GBP/JPY cross remains to the upside. That said, speculations that Japanese authorities will intervene in the foreign exchange market to support the domestic currency might hold back traders from placing aggressive bullish bets.
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