GBPJPY soars to highest degree in almost 16 years, eyeing 200.00 resistance

The USDJPY has and continues to make new highs going again to 1990.

At the moment, the GBPJPY joined the USDJPY in making a brand new multi-year excessive. For the GBPJPY, it traded to its highest degree since September 2008 (highest degree in 2008 or almost 16 years).

Wanting on the month-to-month chart above, the value moved above the June 2015 excessive at 195.87. The high-price in the present day has reached 197.0355.

Wanting on the month-to-month chart above, the 61.8% retracement of the vary for the reason that 2007 excessive is available in at 199.808 (near the pure resistance at 200.00).

This week, the GBPJPY rose 3.05% or 582 pips. Each of these represented the biggest achieve for the reason that week of June 12, 2023.

If the USDJPY is on its option to 160.00. The GBPJPY can stretch as much as 200.00 too, cannot it?.