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GBP/JPY Signal - JPY Money Supply - 10 Aug 2021

Short
British Pound / Japanese Yen (FX:GBPJPY)  
ToniSignals  
FX:GBPJPY   British Pound / Japanese Yen
Harmonic Patterns Chart Patterns Technical Indicators GBPJPY GBP jpy Forex forexsignals forexsignal forexsignalservice forexsignalprovider
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GBPJPY has broken the support trendline prior to the JPY Monetary Supply data, which measures all the JPY in circulation, encompassing notes and coins as well as money held in bank accounts. It is considered as an important indicator of inflation, as monetary expansion adds pressure to the exchange rates.
Technically the RSI is bearish and the pair has broken the ascending trendline of a corrective move in a bear market.

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