GBP/JPY Outlook (16 June 2021)
ByJin Dao Tai
JUN 16, 2021
Overall, GBP/USD is ranging across.
The UK employment data released yesterday indicated an overall positive outlook in the UK jobs market. The number of people claiming for unemployment benefits declined instead of an expected increase.
- Average Earnings Index 3m/y (Actual: 5.6%, Forecast: 4.9%, Previous: 4.3% revised from 4.0%)
- Claimant Count Change (Actual: -92.6K, Forecast: 25.0K, Previous: -55.8K revised from -15.1K)
- Unemployment Rate (Actual: 4.7%, Forecast: 4.7%, Previous: 4.8%)
The UK CPI y/y data will be released later at 1400 (GMT+8).
- CPI y/y (Forecast: 1.8%, Previous: 1.5%)
- Core CPI y/y (Forecast: 1.5%, Previous: 1.3%)
Currently, GBP/JPY is testing to break below the key level of 155. Its next support zone is at 153.000 and the next resistance zone is at 155.000.
Look for short-term buying opportunities of GBP/JPY if it bounces up from the key level of 155.
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