GBP/JPY Outlook (23 July 2021)

#OPINIONLEADER#

ByJin Dao Tai

 JUL 23, 2021

Overall, GBP/JPY is trending downwards. Recently, GBP/JPY broke the resistance zone of 151.000.

The UK Retail Sales m/m data (Forecast: -0.2%, Previous: -1.4%) will be released later at 1400 (GMT+8).

The UK flash PMI data will be released later at 1630 (GMT+8).

• Flash Manufacturing PMI (Forecast: 62.3, Previous: 63.9 revised from 64.2)
• Flash Services PMI (Forecast: 62.1, Previous: 62.4 revised from 61.7)

Currently, GBP/JPY is moving up towards 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 buying opportunities of GBP/JPY if it breaks above the key level of 152.