If we analyze GBP/JPY weekly chart we can notice that between sharp movements up and down there are also prolonged periods and during it rate is struck in tight range. Presently rate also seems to be in such a period. Furthermore presently rate is on highs last seen more than 5 years ago and this will also prevent rate from quick moves upwards. Downside also might be limited for some time as JPY presently is on weakening path.
For more exact rate determination daily GBP/JPY chart was used. It is…
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