GBPJPY Weekly FOREX Forecast 15-Aug-2016

GBPJPY Weekly FOREX Forecast 15-Aug-2016

GBPJPY Weekly FOREX Forecast 15-Aug-2016

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range





Weekly Outlook of GBPJPY

The flow that was the gentleness until the last week had a short rest and became the steady movement last week in the beginning of the week. However, I influenced that the committee of the MPC monetary policy Committee member of the concern for the economic data indicating the state of the British economy after the EU secession choice being published being high and the British central bank showed a thought that one step of reduction in interest rates and quantitative easing was necessary, and, as for the U.K. pound, it was the movement that was gentleness for 16 main currencies. And it increased that movement of the Japanese yen buying of the weekend was strengthened, and pound / Japanese yen fell from 134.02 of the high price to 130.40 in the beginning of the week.Heavy movement of the higher level of price is expected this week. It affected it that the committee of the MPC member made a comment about additional reductions in interest rates, but it would influence age in the first half to have been the member who insisted on a rise in interest rates. Because retail sales amount and the announcement of British main economic indicators are planned in employment statistics, 8/18 in prices connection, 8/17 in 8/16, and it is all data in July after the referendum, I want to pay attention to a result. Particularly, the attention will be necessary for movement the bargain sale that received repurchase of a feeling of moderate price, level breaking of the 130 yen breaking neighborhood, too.
Source: SBI Securities

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