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- Following the US inflation data release, GBP/JPY sinks more than 100 pips to the 169.00 area.
- A bearish technical outlook emerges as RSI aims lower and the 3-day RoC turns negative.
The GBP/JPY slips after hitting a daily high of 171.17 after safe-haven peers advanced following the release of US inflation data. The GBP/JPY slumped more than 100 pips toward the 169.00 handle as traders anticipate another interest rate hike from the Bank of England (BoE) as it scrambles to curb inflation from around 10%.
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