2020-08-20 16:42
Market analysisGBP/JPY Outlook (20 August 2020)
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Market analysis：
Overall, GBP/JPY is trending upwards. Recently, GBP/JPY moved into the support zone of 139.000.
The UK CPI y/y data released yesterday indicated an increase in annual inflation. GBP/USD strengthened briefly on the positive data but the move was short-lived due to no progress being made in the Brexit trade talk.
-CPI y/y (Actual: 1.0%, Forecast: 0.6%, Previous: 0.6%)
-Core CPI y/y (Actual: 1.8%, Forecast: 1.3%, Previous: 1.4%)
The Japanese Flash Manufacturing PMI data (Forecast: 45.0, Previous: 45.2 revised 42.6) will be released tomorrow at 0830 (SGT).
Currently, GBP/JPY is testing the support zone of 139.000 and the next resistance zone is at 141.400.
Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 139.000.
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GBP/JPY Outlook (20 August 2020)
Singapore | 2020-08-20 16:42Overall, GBP/JPY is trending upwards. Recently, GBP/JPY moved into the support zone of 139.000.
The UK CPI y/y data released yesterday indicated an increase in annual inflation. GBP/USD strengthened briefly on the positive data but the move was short-lived due to no progress being made in the Brexit trade talk.
-CPI y/y (Actual: 1.0%, Forecast: 0.6%, Previous: 0.6%)
-Core CPI y/y (Actual: 1.8%, Forecast: 1.3%, Previous: 1.4%)
The Japanese Flash Manufacturing PMI data (Forecast: 45.0, Previous: 45.2 revised 42.6) will be released tomorrow at 0830 (SGT).
Currently, GBP/JPY is testing the support zone of 139.000 and the next resistance zone is at 141.400.
Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 139.000.
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