GBPJPY Weekly FOREX Forecast 05-Mar-2018

GBPJPY Weekly FOREX Forecast 05-Mar-2018

GBPJPY Weekly FOREX Forecast 05-Mar-2018

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

145.97

144.50-147.98

Neutral

Weekly Outlook of GBPJPY

Last week, but began to gap up in response to the flow of the previous week, in addition to the decline in stock prices, in response to the congressional testimony of FRB chairman, from the fact that the growing acceleration observation of the US interest rate hike pace, the pound against the dollar becomes the fall, it became the upside heavy movement even against the yen. Then, and global stock prices, the decline in crude oil prices, also affected also the UK of EU withdrawal negotiations that were growing concerns that the difficulties, pound became a weak movement against major currencies. On weekends, in response to the remarks of Kuroda Bank of Japan Governor, it strengthened the yen buying, pound / yen fell from 150.01 beginning of the week to 144.99, gave the 2017/9/12 since the lows.This week, upside heavy movement is expected. It has also affected the second half of the global stock price movements pound exchange rate of risk aversion in the fall last week, or the movement of the stock price once settled in weekly, or continue to be attention or lowered to continue. In particular, since the announcement of even major UK economic indicators this week is less, external factors are central. In addition, it continued and is expected to difficulties of the British EU withdrawal problem, but presentation of the withdrawal conditions proposed as the British government is expected, have been difficulties opinions adjustment of leaving school and residual faction in the government, continue to pound It would be of fetters.
Source: SBI Securities

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