2020-08-13 18:16
Market analysisGBP/JPY Outlook (13 August 2020)
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Market analysis：
Overall, GBP/JPY is trending upwards.
The UK GDP m/m data (Actual: 8.7%, Forecast: 8.1%, Previous: 2.4% revised from 1.8%) indicated a strong growth of the UK economy in June while the Preliminary GDP q/q data (Actual: -20.4, Forecast: -20.5%, Previous: -2.2% revised from -2.0%) indicated a strong negative growth during the second quarter due to COVID-19.
Currently, GBP/JPY is testing the resistance zone of 139.000 and the next support zone is at 136.200.
Look for buying opportunities of GBP/JPY if it breaks the resistance zone of 139.000.
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GBP/JPY Outlook (13 August 2020)
Singapore | 2020-08-13 18:16Overall, GBP/JPY is trending upwards.
The UK GDP m/m data (Actual: 8.7%, Forecast: 8.1%, Previous: 2.4% revised from 1.8%) indicated a strong growth of the UK economy in June while the Preliminary GDP q/q data (Actual: -20.4, Forecast: -20.5%, Previous: -2.2% revised from -2.0%) indicated a strong negative growth during the second quarter due to COVID-19.
Currently, GBP/JPY is testing the resistance zone of 139.000 and the next support zone is at 136.200.
Look for buying opportunities of GBP/JPY if it breaks the resistance zone of 139.000.
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