GBPJPY Weekly FOREX Forecast 23-Apr-2018

GBPJPY Weekly FOREX Forecast 23-Apr-2018

GBPJPY Weekly FOREX Forecast 23-Apr-2018

GBPJPY Weekly Forecast

Closing Price of last week

Estimated Range

Direction

150.78

148.40-152.50

Neutral

Weekly Outlook of GBPJPY

Last week, Britains May rate hike expectations and of 2018, such as in the background speculation of large-scale acquisitions of UK companies by Japanese companies, has become a strong movement from the beginning of the week. In particular, with the highest since one oclock 2014/6/24 against the dollar, pound / yen also was a strong movement. However, by the consumer price index in the UK has become a low level for the first time in a year, there is also the possibility to exit the view that questioned the rate hike in May 2018 has been pointed out, pound / yen is a weak It became a movement. In addition, and that the BoE Governor was suggested that next months rate hike is not the default route, there are also reports that the UK company side has rejected the acquisition of UK companies by Japanese companies, pound fell significantly against major currencies . Pound / yen has become a trend to decline from 153.76 beginning of the week to 150.72.This week, upside heavy movement is expected. Rate hike expected probability in 2018 May of the British central bank monetary policy announcement, has fallen from 96 percent of the 4/16 point to 50, rate hike if so enhances the voice to question the rate hike in May 2018 expected further reduced, it can become a factor to press the pound exchange rate is also contemplated. Then, results or outcome as a result of the UK economic indicators is not dull continues, because it has been pointed out also concerns about the UK economy, the results of the British economic indicators to be released this week has been attracting attention. In particular, if as a result of GDP of the 4/27 is not dull, there will be a possibility that the lowering of one stage.
Source: SBI Securities

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