GBP/JPY reclaims 184.00 on Tuesday as Yen gets yanked back down by dovish BoJ

The GBP/JPY is climbing back over the 184.00 handle for Tuesday, with the Yen (JPY) getting punished after the Bank of Japan (BoJ) struck a far more dovish tone than markets were prepared for, even as Japanese inflation forecasts tick higher.

The GBP/JPY has rocketed back to 184.00 after the BoJ flubbed hawkish tone expectations. The Pound Sterling is set for its single best trading day against the Yen since July. The Guppy is back into its highest bids in over a month.

GBP/JPY Technical Outlook Tuesday's rally in the GBP/JPY sends the pair back over the 184.00 handle, taking the Guppy into its highest bids in six weeks. The pair continues to cycle the 50-day Simple Moving Average , with the MA in play near 183.00. Major top side resistance is baked in from August's swing high into 186.77, and a congestion range from here will see the formation of a head and shoulder pattern from July's peak near 184.00.

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