FXStreet – After bottoming out in the middle of the 122,00 on Thursday, the GBP/JPY climbing and so comes it now to Test the 123,70/80.
GBP/JPY is rising with risk appetite
The increasing risk appetite seems to be on the global markets and so to take the offers to the safe haven of the JPY, allowing the Pair in the direction of the major 124,00 increases. The selling sentiment towards the Greenback is supported by the upside correction in the pair.
Let us remember that the Couple at the beginning of the week formed a new multi-month high in the area of the 126,00, but with the increasing risk aversion yesterday was the 2-week low in the area of the 122,50.
From Japan there were no important data, while from the Eurozone , the current account , and the Speeches of the ECB Council members V. Constancio and P. Praet expect.
EUR/JPY relevant levels
Currently, the daily profit is 0.01 % in the case of 123,79 and the next Resistances lie at 124,14 (High 18. May), 124,86 (38,2 % Fibo of 149,76-109,47) and 125,83 (2017 High 16. May). On the other hand, supports are located at 123,99 (20-day SMA), 122,52 (Tief 18. May) and 120,82 (100-day SMA).
** FXStreet News Editorial, FXStreet**