GBP/JPY Outlook (14 September 2020)
Overall, GBP/JPY is trending downwards.
The UK GDP m/m data (Actual: 6.6%, Forecast: 6.6%, Previous: 8.7%) released last Friday indicated continued growth in the UK economy in August. Despite the third consecutive month of continued growth, the economy has only recovered just over half of the damage caused by COVID-19.
Today, the Internal Market Bill will be tabled in the UK Parliament. During this time, volatility is expected in GBP.
Currently, GBP/JPY is testing the support zone of 136.200 and the next resistance zone is at 138.100.
Look for selling opportunities of GBP/JPY if it breaks the support zone 136.200.
The UK GDP m/m data (Actual: 6.6%, Forecast: 6.6%, Previous: 8.7%) released last Friday indicated continued growth in the UK economy in August. Despite the third consecutive month of continued growth, the economy has only recovered just over half of the damage caused by COVID-19.
Today, the Internal Market Bill will be tabled in the UK Parliament. During this time, volatility is expected in GBP.
Currently, GBP/JPY is testing the support zone of 136.200 and the next resistance zone is at 138.100.
Look for selling opportunities of GBP/JPY if it breaks the support zone 136.200.