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GBPJPY Weekly FOREX Forecast 01-Feb-2016

GBPJPY Weekly FOREX Forecast 01-Feb-2016

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

170.65

166.99-173.77

Neutral

Weekly Outlook of GBPJPY

In "last week, it was regarded as materials that President of British economic indicators having turned worse than expectation in the beginning of the week and Kearney British central bank stated that the condition of the rise in interest rates had not been yet set, and it was with heavy movement of the higher level of price in the first half in a week. Following the fact that it was in the latter half of a week, and the stock prices having risen worldwide and British GDP were improved from the first half year, it became the steady movement. And because Bank of Japan announced the negative interest rate introduction on the weekend, Japanese yen was sold, and pound / Japanese yen rose to 174.19, and it was with movement to touch a high price since 1/6. But it became the reactionary fall from the reaction that rose suddenly to the 171 yen level afterwards.Heavy development of the higher level of price is expected a little this week. Pound / Japanese yen was pushed up by rapid yen sale, but wants to pay attention to the movement in the beginning of the week late last week because it becomes the movement to fall back afterwards. Because there is the slowdown concern of the British economy, and rise in interest rates expectation retrogresses, it is the situation that is hard to buy pound positively as the past. From this, it is thought that the higher level of price is restrictive. Announcement of the monetary policy of the British central bank is planned in 2/4, and the status quo is consensus, but the policy wants to pay attention to the movement that is gentleness and the possibility that it is this week if it is the contents along the remark of the president of last week because it is thought. "
Source: SBI Securities

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