GBPJPY Weekly FOREX Forecast 11-Jul-2016

GBPJPY Weekly FOREX Forecast 11-Jul-2016

GBPJPY Weekly FOREX Forecast 11-Jul-2016

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

130.28

125.70-132.53

Strong Sell

Weekly Outlook of GBPJPY

A global stock prices fall continued backed by concern in the future of the world economy with the EU secession decision of the U.K., and pound of the country concerned followed it, and it was with the movement that was gentleness last week. In addition, was accompanied, and pound lowered the low price for the first time in 31 years to low price in since November, 2012 and 128.83 that it was in anti-Japanese yen against dollar since June, 1985 because a viewpoint that British central bank decided additional monetary easing spread.Heavy movement of the higher level of price is expected this week. The concern with the EU secession decision of the U.K. smokes sequentially and may not wipe it out immediately. And the first attention is monetary policy announcement of the British central bank of 7/14 this week and wants to pay attention whether a reduction in interest rates since March, 2009 is decided here. Of the market want to assume the possibility to become one step of fall more as expected when a reduction in interest rates is decided.
Source: SBI Securities

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