GBP/JPY longs were the best trade this week

Author: Adam Button | Category: News

The pound led the way by a longshot

The pound led the way by a longshot
Parliament voting against a no-deal Brexit was a major catalyst for the pound along with hopes that May can find a way to get a deal through. It surged more than 2% against the US dollar and nearly 2.5% against the yen.

Otherwise, the US dollar and yen were generally weaker as commodity prices and currencies rose.

The weekly GBP/JPY chart is an interesting one. This week's rally merely erases last week's decline in what's been a three-week back-and-forth.

It will take a break above 150.00 to get this pair moving to the upside but beyond that it could be a nice ride up to 155.00.
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