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Gbpjpyshort

GBPJPY ANALYSIS ON H4 CHART.Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced off the support zone of 153.800. The Japanese Retail Sales y/y data (Actual: 1.4%, Forecast: 2.9%, Previous: 1.9%) released earlier today indicated a slowdown in consumer spending. The Japanese Unemployment Rate data (Forecast: TBA, Previous: 2.8%) will be released tomorrow at 0730 (GMT+8). GBP/JPY’s next support zone is at 153.800 and the next resistance zone is at 156.000. Look for short-term buying opportunities of GBP/JPY.
Long
by charliedavies770
GBPJPY ANALYSIS ON H4 CHART.Overall, GBP/JPY is trending upwards. Recently, GBP/JPY broke the support zone of 156.000. The UK CPI y/y data (Actual: 5.4%, Forecast: 5.2%, Previous: 5.1%) released yesterday indicated that prices in the UK hit the highest level since March 1992, a 30-year high level driven mainly by higher energy prices and supply chain disruptions. During his testimony yesterday, Bank of England Governor Bailey highlighted that there are evidence of a second round of inflation effects. Currently, GBP/JPY is trading towards the resistance zone of 156.000 and the next support zone is at 153.800. Look for short-term selling opportunities of GBP/JPY if it bounces off the resistance zone of 156.000.
Short
by charliedavies770