After 14 months, GBJPY has reached the Strong Resistance Zone
GBPJPY Analysis
After 14 months, GBJPY has reached a strong resistance zone of 148.00
If the market breaks this resistance, we can expect the next destination of GBJPY at 155.00
For the last 5 years, GBPJPY is moving in sideways. Soon, the GBPJPY will break the sideway ranging movement.
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Great Britain Pound GBP moves higher
UK Pound moves higher as UK PM Johnson announced easing Lockdown on Monday.
UK retail sales plunged to 8.2%, seems worst Spending as lockdown occurred., Anyway, the GBP pound increasing day by day versus US Dollar for the main reason for Vaccination completion over 35%.
This Vaccination information gives a boost for Investors.
UK Britain will easily come back from the pandemic by the end of 2021.
Due to this, Cable is buying on dips is preferred from an investors point of view, and all GBP pairs going to break all the major resistance zones soon.
Japan cut its economic outlook
Japanese Cabinet office first time since April 2020, cut its economic outlook as Prolonged use of state of emergency in the country to fight for the resurgence of Covid-19.
Japan Government cut its consumer spending view on 3rd month continuously.
And raised Capital spending, exports and Corporate profits for boosting the economy from Pandemic.
The overall outlook of the Japanese economy worries statement for lockdown in Nationwide.
