The Greenback rose to a six-month high against the Yen and steadied against other major peers today after U.S. inflation data reaffirmed expectations that the Federal Reserve will hike interest rates two more times this year.
Investors are also expecting CPI data from the U.S. along with ECB Policy Minutes. Looks like a good time to trade Japanese crosses as these aren’t influenced by the U.S.
GBP/JPY – Major Trading Levels
Support Resistance
147.11 148.11
146.79 148.43
146.29 148.93
Key Trading Level: 147.61