🏦Macroeconomic Overview
The UK economy is going through a bad period.
The fundamentals of the Japanese economy are stronger.
But GBP/JPY is at its highest level in the last 6 years, due to interest rate policy.
Japan follows an expansionary monetary policy because there is deflation.
Since inflation is very high in England, monetary tightening is going on.
However, inflation in Japan has reached above 2 levels. They can talk about inflation next week, or they can abandon negative interest rates
⏳When We Examine the Price Chart on a Daily Basis
When we examine the short-term price movements, we see a wedge formation in the braking zone.
If the price fails to break the 168 resistance level and breaks the formed wedge downwards, this could be a signal that the bearish movement has started.
160 is an important support level.
The decline can last up to 162-160 levels.
There are signals that the JPY will appreciate in many other products.
But the state of being powerless against all oarities continues.
It is one of the products with the highest potential profitability ratio that I follow in the market.
The UK economy is going through a bad period.
The fundamentals of the Japanese economy are stronger.
But GBP/JPY is at its highest level in the last 6 years, due to interest rate policy.
Japan follows an expansionary monetary policy because there is deflation.
Since inflation is very high in England, monetary tightening is going on.
However, inflation in Japan has reached above 2 levels. They can talk about inflation next week, or they can abandon negative interest rates
⏳When We Examine the Price Chart on a Daily Basis
When we examine the short-term price movements, we see a wedge formation in the braking zone.
If the price fails to break the 168 resistance level and breaks the formed wedge downwards, this could be a signal that the bearish movement has started.
160 is an important support level.
The decline can last up to 162-160 levels.
There are signals that the JPY will appreciate in many other products.
But the state of being powerless against all oarities continues.
It is one of the products with the highest potential profitability ratio that I follow in the market.