Overall, GBP/JPY is trending downwards. Recently, GBP/JPY broke the resistance zone of 156.000.
During the monetary policy meeting yesterday, the Bank of England hiked interest rate by 0.25% from 0.25% to 0.50% in an effort to tame the rising inflation in the UK. The central bank’s Governor Andrew Bailey also highlighted during the press conference that more rate hikes can be expected.
The UK Construction PMI data (Forecast: 54.3, Previous: 54.3) will be released later at 1730 (GMT+8).
Bank of England MPC Member Broadbent will be speaking later at 2015 (GMT+8). During this time, there may be volatility in GBP.
GBP/JPY’s next support zone is at 156.000 and the next resistance zone is at 158.000.
Look for short-term buying opportunities of GBP/JPY.
During the monetary policy meeting yesterday, the Bank of England hiked interest rate by 0.25% from 0.25% to 0.50% in an effort to tame the rising inflation in the UK. The central bank’s Governor Andrew Bailey also highlighted during the press conference that more rate hikes can be expected.
The UK Construction PMI data (Forecast: 54.3, Previous: 54.3) will be released later at 1730 (GMT+8).
Bank of England MPC Member Broadbent will be speaking later at 2015 (GMT+8). During this time, there may be volatility in GBP.
GBP/JPY’s next support zone is at 156.000 and the next resistance zone is at 158.000.
Look for short-term buying opportunities of GBP/JPY.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my mailing list jindaotai.com/joinme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.