GBPJPY Weekly FOREX Forecast 20-Mar-2017

GBPJPY Weekly FOREX Forecast 20-Mar-2017

GBPJPY Weekly FOREX Forecast 20-Mar-2017

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

139.70

138.44-140.74

Neutral

Weekly Outlook of GBPJPY

Last week, it has also increased wait-and-see mood ahead of the US FOMC, became a limited movement from the beginning of the week. And, in the UK the employment statistics, although the unemployment rate has improved to the lowest level since 1975, in response to the fact that growth in wages has deteriorated, became the upside heavy movement. And, although in the US FOMC rate hike has been determined, from such as it was already factored, the dollar has been sold against major currencies, the pound has been rising against the dollar, there is also a concern that involved in the euro zone major countries election , it was followed by upside heavy movement. However, in the UK of the monetary policy announcement, though, such as interest rates has become stationary, and that there was a committee to insist on raising interest rates, is also good feeling that there were members buying there is a possibility that the attitude change with the conditions, and a strong movement became.This week, upside heavy movement is expected. In the UK the EU withdrawal problem, is noted how can activate the Lisbon Treaty Article 50 by the end of the month. However, there is also a need for the House and Senate approval, it is also concerned about the temporal problem. In addition, in the domestic economic indicators, various price-related and, has been ahead of the announcement of major economic indicators such as retail sales, the result is noted.
Source: SBI Securities

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