GBP/JPY Outlook (23 July 2021)
ByJin Dao Tai
JUL 23, 2021
Overall, GBP/JPY is trending downwards. Recently, GBP/JPY broke the resistance zone of 151.000.
The UK Retail Sales m/m data (Forecast: -0.2%, Previous: -1.4%) will be released later at 1400 (GMT+8).
The UK flash PMI data will be released later at 1630 (GMT+8).
- Flash Manufacturing PMI (Forecast: 62.3, Previous: 63.9 revised from 64.2)
- Flash Services PMI (Forecast: 62.1, Previous: 62.4 revised from 61.7)
Currently, GBP/JPY is moving up towards the key level of 152. Its next support zone is at 151.000 and the next resistance zone is at 153.800.
Look for short-term buying opportunities of GBP/JPY if it breaks above the key level of 152.
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