Market expects inflation to print 2.2% vs 2.3% previously. UK inflation has been trending slowly up giving reason to believe that BOE soon will be publicly talk about rising interest rates. Fore that reason, better than expected CPI is likely to be positive for GBP.
Posted in: Premium Fundamental Analysis,
The pair is still in a range trade but it shows some signs of bullish force behind. The fact the the market didnt break 110 ( after few attempts ) shows me that bears have not enough power to bring USDJPY down below that level. Its hard to say if it will rebound or will it stay here for few days and slightly drift down. Weekly momentum is fully oversold and it tells me, the higher prices are likely. I remain bullish but my long position is set to stop just below 110.
Posted in: Premium Daily Technical Analysis,
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