GBP/JPY Price Analysis: Marches towards 182.00 resistance on upbeat UK inflation GBP/JP GBPJPY BOE Inflation Technical Analysis ChartPatterns
he cross-currency pair jumps 80 pips to refresh its intraday high near 181.60 before recently making rounds to the mid-181.00s. for May rose past 8.4% market expectations to reprint the 8.7% YoY figure. That said, the Core CPI, which excludes volatile food and energy items, rose past analysts’ estimations and previous readings of 6.8% YoY to register a 7.1% YoY increase in inflation numbers for the said month.
It’s worth noting, however, that the RSI line approaches the overbought territory and hence a downward-sloping trend line from Monday, close to the 182.00 round figure, appears a tough nut to crack for the bulls.
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