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GBP/JPY PRICE ANALYSIS: A BEARISH ENGULFING PATTERN LOOMS AFTER DIVING BELOW 192.00

hagijeee
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  • 'Bearish engulfing' on GBP/JPY suggests growing bearish momentum.
  • Break below Tenkan-Sen may lead to more declines, with key supports eyed.
  • Resistance at 192.00, recent highs key for reversals; market sentiment watched.

The GBP/JPY retreats late on Wednesday during the North American session and is down 0.27% as the market sentiment shifts sour. Speculation that the Federal Reserve wouldn’t cut rates as expected spurred risk aversion, with traders seeking safety moving to the Japanese Yen, the Greenback, and the Swissie. The cross exchanges hands at 191.82.


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