⚡️The GBP/JPY pair traded slightly negative for the second day in a row on Friday and edged lower near the bottom of the weekly range during the Asian session.
⚡️However, spot prices attempt to hold above the 184.00 circular mark, ensuring caution for aggressive bearish traders and getting ready for any further downside move. .
⚡️Despite the overall positive tone in equity markets, the Japanese Yen (JPY) still attracted some haven flows amid fears of a deeper global recession and acted as a drag for GBP/JPY pair.
⚡️Share your ideas with Krado, I'm looking forward to it⚡️
⚡️However, spot prices attempt to hold above the 184.00 circular mark, ensuring caution for aggressive bearish traders and getting ready for any further downside move. .
⚡️Despite the overall positive tone in equity markets, the Japanese Yen (JPY) still attracted some haven flows amid fears of a deeper global recession and acted as a drag for GBP/JPY pair.
⚡️Share your ideas with Krado, I'm looking forward to it⚡️
Note
⚡️GBP/JPY remains low for the second day in a row, despite a lack of further selling.Note
⚡️The bets were reaffirmed by comments from BoE Deputy Governor Ben Broadbent last week, saying that policy rates may have to remain within a limited range for some time because of the knock-on effects of the price increase is unlikely to disappear quicklyNote
⚡️Additionally, Japan's Ministry of Finance reported that capital expenditures by companies rose 4.5% from a year earlier in the April-June period, down from 11.0%. previously and missing consensus expectations for a 5.4% increase. Also, the divergent policy stance adopted by the Bank of Japan (BoJ) and another major central bank, could hinder traders from placing strong bullish bets around the JPY.Note
⚡️A modest pickup in demand for the safe-haven JPY exerts downward pressure on the cross.Note
⚡️GBP/JPY stays defensive after two-day losing streak, bounces off one-week low.Note
⚡️BoE tightening expectations remain steady, and BoJ will likely maintain its dovish outlook.⚡️Monetary policy divergences drive the pair upwards.
Note
⚡️Everything is going according to my plan, the goal is not far awayNote
⚡️GBP/JPY extends week-start recovery amid market’s cautious optimismNote
⚡️UK Hunt assured that the administration is on track to bring down inflation to almost 5% by year-endNote
⚡️GBP/JPY loses momentum, snaps two-day winning streak on Wednesday.UK S&P Global/CIPS Composite PMI fell to 48.6 in August vs. 50.8 prior.
Note
⚡️Japanese policymakers will closely monitor FX movements with a sense of urgency.The attention will shift to Japan’s Gross Domestic Product (GDP) due on Friday.
Note
⚡️new prospectsTrade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.