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GBPJPY Weekly FOREX Forecast 08-Feb-2016

GBPJPY Weekly FOREX Forecast 08-Feb-2016

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

169.46

166.99-172.50

Neutral

Weekly Outlook of GBPJPY

In "last week, I received a flow a week earlier and became the steady movement early next week. However, it became the movement that was gentleness afterwards following the fact that a thing and the crude oil price that the stock prices greatly declined worldwide fell. In addition, policy rate was left unredeemed with MPC (monetary policy Committee) of the British central bank, but, as for pound, it became the movement that was gentleness for a major currency following the fact that it became the decision in being unanimous since July, 2015. And I received the fall of the stock prices and the crude oil price on the weekend, and the pound sterling became one step of fall, and, as for pound / Japanese yen, it was with movement to lower from 175.02 of the beginning of the week to 169.00.Heavy development of the higher level of price is expected this week. Because it turned around in monetary policy Committee although a feeling of expectation for the rise in interest rates policy next to the United States was high so that the member who supported a rise in interest rates leaves it unredeemed this time till then, the rise in interest rates expectation retreats. It will become the concern to have reduced a British GDP and wage growth rate prospect of this year above all. It is sensitive to the result of British economic indicators and may react and wants to pay attention to prices-related index in particular in future. "
Source: SBI Securities

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