Japan’s July inflation data have strengthened expectations that the Bank of Japan could lift rates in September. Yet the outlook for USD/JPY, EUR/JPY and GBP/JPY remains tied to whether the Fed, ECB and BoE preserve their yield advantage over the yen.
GBP/JPY has confirmed a major breakout above long-term resistance, with multiple bullish signals indicating the uptrend may continue following any near-term pullback.
