This last month JPY is constantly rising since the European crisis and the dissapointing US indices make traders favor the Yen. Yesterday JPY soared up to JPY 83.60 against USD, the level which is the 15-year low for the US currency. The Japanese Government is concerned with this situation and is ready to take measures which is actually weakened the Yen to JPY 84.30. If the trend is reversed, the next JPY resistance is far away at JPY 95.00 a USD.

GBP/JPY – 130.00

The GBP is also losing to JPY sliding down to JPY 130.00 (almost a three-moth low for this pair). The British traders to the updated GDP report due this Friday (August 27), which can influence the GBP quotes, or might even reverse JPY upward trend. In the opposite case, the Yen might keep moving towards the next GBP support at 126.80.