GBP/JPY Price Forecast: Rebounds to 189.00 as risk-on mood offsets weaker UK PMIs

  • The GBP/JPY cross retreats from the vicinity of the 190.00 psychological mark, or over a two-week top touched earlier this Wednesday. The intraday selling picks up pace in reaction to disappointing UK PMIs and drags spot prices to a fresh daily low, around the 188.25 region during the first half of the European session.