2020-09-18 18:52
Market analysisGBP/JPY Outlook (18 September 2020)
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Market analysis：
Overall, GBP/JPY is trending downwards. Recently, GBP/JPY trended into the resistance zone of 136.200.
Yesterday, the Bank of England (BoE) kept interest rate unchanged at 0.10%. Although the central bank did not carry out any new monetary policy changes, they were discussing on how to implement negative interest rates effectively in a scenario whereby the UK economy worsens.
The UK Retail Sales m/m data (Forecast: 0.8%, Previous: 3.6%) will be released later at 1400 (SGT).
The Japanese banks will be closed in observance of Respect-for-the-Aged Day. Lower trading volume and volatility is expected during the Japanese trading hours.
Currently, GBP/JPY is bouncing off the resistance zone of 136.200 and the next support zone is at 133.780.
With the dovish outlook from the BoE, look for selling opportunities of GBP/JPY.
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GBP/JPY Outlook (18 September 2020)
Singapore | 2020-09-18 18:52Overall, GBP/JPY is trending downwards. Recently, GBP/JPY trended into the resistance zone of 136.200.
Yesterday, the Bank of England (BoE) kept interest rate unchanged at 0.10%. Although the central bank did not carry out any new monetary policy changes, they were discussing on how to implement negative interest rates effectively in a scenario whereby the UK economy worsens.
The UK Retail Sales m/m data (Forecast: 0.8%, Previous: 3.6%) will be released later at 1400 (SGT).
The Japanese banks will be closed in observance of Respect-for-the-Aged Day. Lower trading volume and volatility is expected during the Japanese trading hours.
Currently, GBP/JPY is bouncing off the resistance zone of 136.200 and the next support zone is at 133.780.
With the dovish outlook from the BoE, look for selling opportunities of GBP/JPY.
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