In the GBPJPY , we see the price moving towards the 200 moving average.The price line with this moving average can be considered a good resistance to this line.Also in this pair we see the price squeeze between the support line and the resistance line which is stated in the technical principles when it experiences a squeeze, when it crosses one of the lines it will have a jump. Therefore, there is a high likelihood of a breakdown in support of existing market pressure. In the expression of the above analysis we have drawn a good line of resistance. This line shows the bullish trend on the upside and the market tendency to start the downtrend. In the first phase, we expect the price to drop to 127.95. At the mentioned price, we have reached the support line and expect the uptrend to start at 143.48.And then the main price drop to 116.84.
The currency pair GBPJPY has the most important economic news for next week:
January 9 : Release of Foreign Investment Statistics on Japan's Stock Sector
January 9 : Japan Issues Government Securities Sales
January 9 : UK retail annual release
January 10 : Statement of the annual cost of living in Japan
January 10 : Release Japan's Economic Outlook
England has a brilliant position in agriculture and has one of the strongest agricultural industries. In the United Kingdom, 75% of the UK's land is under cultivation. The most important crops in the UK are barley and potato.Britain's inflation and unemployment rates are also on the decline.On the other hand, in recent years the UK GDP rate has dropped significantly compared to previous years.But Britain's main problem in recent years has been the UK's withdrawal from the European Union, which is currently being debated in the House of Representatives.
But Japan is also struggling with years of stagnation and the government's inability to deliver on its promises.