GBPJPY Buy Opportunity

GBP has retraced heavily against the Yen to a perfect buy opportunity for a long.

Yen has had a strong few weeks having hit a critical resistance level against the USD, and is now at a critical point against most pairs.

The fundamentals support a strong GBP, which is contrary to the dovish sentiment coming from the Japanese Central Bank - the Yen is a low yielding currency that is typically used as a safe haven currency during times of crises.

With the pandemic over most currencies are now gaining heavily against the Japanese Yen.