Jin_LCMSTraders

GBP/JPY Outlook (04 August 2020)

FX:GBPJPY   British Pound / Japanese Yen
Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced up from the key level of 138.

The U.K. Final Manufacturing PMI data (Actual: 53.3, Forecast: 53.6, Previous: 53.6) released yesterday indicated a slight downward revision in the growth of the manufacturing sector in July.

Currently, GBP/JPY is testing the resistance zone of 139.000 and the next support zone is at 136.200.
Look for buying opportunities of GBP/JPY if it breaks the resistance zone of 139.000.

Comments

That resistance zone sure is a strong one. Nerve wracking. Thank you for the post.
Reply
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