GBP/JPY Outlook (15 July 2021)

#OPINIONLEADER#

ByJin Dao Tai

 JUL 15, 2021

Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced down from the key level of 153.

The UK CPI y/y data released yesterday indicated a higher-than-expected increase in annual inflation.

• CPI y/y (Actual: 2.5%, Forecast: 2.2%, Previous: 2.1%)
• Core CPI y/y (Actual: 2.3%, Forecast: 2.0%, Previous: 2.0%)

Currently, GBP/JPY is testing to break below the key level of 152. Its next support zone is at 151.000 and the next resistance zone is at 153.800.

Look for short-term selling opportunities of GBP/JPY if it breaks below the key level of 152.