workingtraders
Long

$GBPJPY Strong support holding as GB data improves.

FX:GBPJPY   British Pound/Japanese Yen
318 3 9
Currently we are sitting on major support. Divergence 5 day RSI .
See chart for technical areas of interest.


Carney hawkish.
Deflation on GB             not a major concern.

Low inflation is sparking consumer spending which what I like to see to support a rate hike.
BoE deputy governor Ben Broadbent says in an interview that bad deflation isn't a threat to Britain
Good deflation helping boost demand and output
Will watch for signs of price falls hitting wage growth
Only risk to GBP is going to be elections.



BOJ QQE will continue until prices are stable at 2%
Can't determine price expectations just looking at break-even inflation rate

joryan
2 years ago
I don't understand why you think it will go up after it has broken a longterm trendline to the downside?
Reply
workingtraders joryan
2 years ago
Weekly and Monthly uptrend is in tact. With GBP - GDP and Carney Rate hike a go. It is a buy.
+1 Reply
IvanLabrie PRO
2 years ago
It actually does look bullish in the short term.
+2 Reply
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