2020-08-05 17:27
Market analysisGBP/JPY Outlook (05 August 2020)
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Market analysis：
Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced off the resistance zone of 139.000.
The UK Final Services PMI data (Forecast: 56.6, Previous: 56.6) will be released later at 1630 (SGT).
Bank of Japan Governor Kuroda will be speaking at a webinar later at 2000 (SGT). During this time, there may be volatility in JPY.
Currently, GBP/JPY is testing to break below the key level of 138. Its next support zone is at 136.200 and the next resistance zone of 139.000.
Look for selling opportunities of GBP/JPY if it breaks below the key level of 138.
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GBP/JPY Outlook (05 August 2020)
Singapore | 2020-08-05 17:27Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced off the resistance zone of 139.000.
The UK Final Services PMI data (Forecast: 56.6, Previous: 56.6) will be released later at 1630 (SGT).
Bank of Japan Governor Kuroda will be speaking at a webinar later at 2000 (SGT). During this time, there may be volatility in JPY.
Currently, GBP/JPY is testing to break below the key level of 138. Its next support zone is at 136.200 and the next resistance zone of 139.000.
Look for selling opportunities of GBP/JPY if it breaks below the key level of 138.
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