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The GBP/JPY pair might fall in the short term. A potential target for the next few weeks is 140.63 where is Fibo 0.38 on the daily chart. The top has been already reached at 148.50, according to the weekly chart.

The pound could continue to fall as more Brexit uncertainty surfaced. European Union leaders have granted the UK a six-month extension to Brexit. The new deadline - 31 October - averts the prospect of the UK having to leave the EU without a deal, as MPs are still deadlocked over a deal.


The most important data from this week:

April 16
UK Unemployment rate (4% expectation); ( 3.9% previous)
Unemployment change (173k expectation); ( 222k previous)
Japan trade balance (305JPY billion expectation); (116JPY billion previous)
April 17
UK CPI MoM (0.2% expectation); ( 0.5% previous)
YoY (2% expectation); (1.9% previous)
April 18
Japan CPI YoY (0.5% expectation); ( 0.2% previous)

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