GBPJPY Weekly FOREX Forecast 12-Mar-2018

GBPJPY Weekly FOREX Forecast 12-Mar-2018

GBPJPY Weekly FOREX Forecast 12-Mar-2018

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

147.92

146.00-149.00

Neutral

Weekly Outlook of GBPJPY

Last week, for the import restrictions of playing cards US President, which has been a concern, increasing number of government members express their opposition, from the fact that planned withdrawal has been determined, a concern of the trade war is softened, risk aversion is retracted , a circle that is safe assets were sold. In addition, also added that the crude oil price rises, pound / yen rose from 145.09 beginning of the week to 148.01. However, British officials et al., In response to some reports to be expected that there is no agreement before the end of the year in relation to EU withdrawal, pound became a weak movement against major currencies. Then, from that heightened expectations for the US-North Korean talks, tension of the situation on the Korean Peninsula is sold the yen from the perspective of the abated, pound / yen was also a scene that rises to 148.54 at the weekend.This week is expected to bottom hard movement. Such as import restrictions and North Korea situation in the United States, that and that are expected to yen selling in the external factors, from such hawkish stance of the BoE, widespread view that there is a growing expectation for a rate hike in May and are also, it will be the underpinning factor of pounds. However, North Korea situation and the UK of EU withdrawal problem is still there remains uncertainty, it is noted future development.
Source: SBI Securities

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