GBP/JPY Price Forecasts: Bulls are pushing towards 214.10 resistance area
The post GBP/JPY Price Forecasts: Bulls are pushing towards 214.10 resistance area appeared on BitcoinEthereumNews.com. The British Pound (GBP) is drawing support from a weak Japanese Yen (JPY) on Monday, with bulls aiming for the top of last week´s trading range at the 214.00-214.25 area. The recent jump in Oil prices is hurting the Yen across the board, while the Pound shrugs off concerns about the weakness of the Labour cabinet. The Yen is suffering amid rising Oil prices after US President Donald Trump dismissed the latest peace proposal submitted by Tehran. The barrel of Brent Oil appreciated to $103.00 from lows near $97.00 last week, and the WTI trades at $94.60, up from Friday’s close at $91.30. These prices pose a serious challenge to economic growth, as Japan is a net Oil importer, and add pressure on an already strained fiscal stability through energy subsidies. The Pound, on the other hand, is shrugging off fears of political uncertainty with Prime Minister Keir Starmer ser