GBPJPY Weekly FOREX Forecast 27-Mar-2017

GBPJPY Weekly FOREX Forecast 27-Mar-2017

GBPJPY Weekly FOREX Forecast 27-Mar-2017

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

138.88

136.50-139.50

Strong Sell

Weekly Outlook of GBPJPY

Last week, in response to the news of the British Prime Minister in the beginning of the week to notify the EU withdrawal to 3/29, it intensified uncertainty, pound became a weak movement against major currencies. Although back then value, that the index that shows the British household outlook has become a rapid drop is anaerobic, it fell against major currencies again. And, in response to the fact that terrorist incident occurred in the vicinity of London of the Capitol, fell against major currencies, pound / yen fell temporarily to 137.78, gave the since 1/17 lows. After that, although the returns a value, it continued upside heavy movement.This week, upside heavy movement is expected. The 3/29, the United Kingdom is expected to carry out the withdrawal notice to the EU, but there is also a view that has been woven in nearly market, it is considered possible that the impact on the UK economy is again consciousness . In addition, the greater the impact of the re-repatriation of Japanese companies home country reflux of funds at year-end, pound / yen will also likely to be weak movement.
Source: SBI Securities

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