Potential decline on GBPJPY
GBPJPY pair is in focus this week with a possible pullback to the 182 area before continuing its bearish rally at around 178. The main narratives behind this is the differences in the 10 year bond yields of the two countries that show capital flowing more aggressively in favor of the Yen as well as the economic data expected later in the week which , if confirmed, could support the Yen driving the pair to the downside. Japanese balance of trade as well as the Inflation rate expected on Wednesday and Thursday respectively are expected to create volatility for the pair especially around publication times.
Read EXNESS Broker Review July 20, 2023 at 02:04PM Exness
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