In the short term, the technical outlook for GBP/JPY remains negative as indicated by the daily chart, which shows the pair declining from its recent multi-year high. The pair has experienced a significant rally of nearly 18% this year due to loose Japanese monetary policy and tightening UK monetary policy. However, there may be a change in the latter as today's inflation data suggests that July's inflation reading will be even lower. This is likely due to the implementation of the Ofgem energy price cap, which has been reduced from £2,500 to £2,074.
Trade active:
Elon Musk says he's now seeing deflationary pressure in commodities after complaining about insane lithium prices last year.
1. Support signal win greater than 90% in Forex 🟢
2. Knowledge sharing, forex trading guide. Safe capital management 💲
3. 4000 pips monthly 🚀
FREE signals in Telegram: t.me/sphyntrading
2. Knowledge sharing, forex trading guide. Safe capital management 💲
3. 4000 pips monthly 🚀
FREE signals in Telegram: t.me/sphyntrading