GBPJPY trend & momentum 13-Feb-2015

GBPJPY has risen above 183.0 this week by strong sterling though JPY declined against most of currencies because oftthe announcement by Bank of Japan.

Mark Carney referred they are prepared to cut their interest rate, currently 0.5% , if inflation rate stays lower. However, GBP has been relatively stronger againt other currencies before and after the announcement. It could say the market implies the rate not being cut near future.

Although the long term trend is likely GBPJPY upward trend, the trend and momentum indicates chance of GBPJPY going down in short term for next week.