GBP/JPY Analysis: Selling Strategy Remains Strongest
Hafte ke shuru hone se GBP/JPY prices ne neeche ki taraf correction ki hai, jo ke support level 188.22 tak extend hui, aur Wednesday ke shuruat mein around 189.00 band hui. US dollar ke muqablay mein yen ki qeemat mein kami ke bawajood, yen ne doosri major currencies ke muqablay mein significant izafa dekha hai. Lekin, investment bank analysts ke mutabiq, pound abhi bhi apni recent decline ke baad thoda undervalued hai.
Analysts jo yeh samajhte hain ke pound teesre quarter ke dauran abhi ke levels se upar ja sakta hai, kehte hain ke UK mein relatively high interest rates pound ko agle hafton mein support kar sakte hain. Total milakar, pound abhi tak G10 currencies mein sabse behtareen perform kar raha hai. Fundamental aur scientific positives waise ke waise hain aur hum confident hain ke recent weakness UK ki expectations ko reflect nahi karti,” Bank of America ne apni recent report mein kaha.
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Pichle hafte ke economic reports kehti hain ke UK economy ne pehle half mein strong performance dikhayi, GDP teen mahine tak June mein 0.6% barhi. Unemployment rate reportedly June mein 4.2% tak gir gaya jo ke May mein 4.4% tha, hiring ki tez raftar ke bawajood. Yeh data Bank of England ke liye interest rates cut karne ki zaroorat ko kam karega 2024 mein, jo ke UK aur pound ke interest rate expectations ko boost karega.
British stocks stock exchange platform par gir gaye. FTSE 100 index Tuesday ko thoda gir gaya aur 8,300 points par trade kar raha tha, jo ke pichle din teen hafton ke high par tha. Yeh girawat energy stocks ke wajah se hui, Shell aur BP ne oil prices ke girne ke bawajood 1.5% se zyada girawat dekhi. Industrial minerals mine karne wale companies ke shares bhi copper prices ke girne ke bawajood losses ka shikaar hue.
Daily chart ke development ke mutabiq, GBP/JPY price abhi bhi neeche ki taraf hai aur agar bulls pair ko resistance levels 193.70 aur 196.00 ke taraf kheench lete hain to target change ho sakta hai. Iske liye investors ko risk appetite ko wapas lana hoga aur yen ko safe-haven asset ke tor par kharidna band karna hoga.
Hafte ke shuru hone se GBP/JPY prices ne neeche ki taraf correction ki hai, jo ke support level 188.22 tak extend hui, aur Wednesday ke shuruat mein around 189.00 band hui. US dollar ke muqablay mein yen ki qeemat mein kami ke bawajood, yen ne doosri major currencies ke muqablay mein significant izafa dekha hai. Lekin, investment bank analysts ke mutabiq, pound abhi bhi apni recent decline ke baad thoda undervalued hai.
Analysts jo yeh samajhte hain ke pound teesre quarter ke dauran abhi ke levels se upar ja sakta hai, kehte hain ke UK mein relatively high interest rates pound ko agle hafton mein support kar sakte hain. Total milakar, pound abhi tak G10 currencies mein sabse behtareen perform kar raha hai. Fundamental aur scientific positives waise ke waise hain aur hum confident hain ke recent weakness UK ki expectations ko reflect nahi karti,” Bank of America ne apni recent report mein kaha.
Pichle hafte ke economic reports kehti hain ke UK economy ne pehle half mein strong performance dikhayi, GDP teen mahine tak June mein 0.6% barhi. Unemployment rate reportedly June mein 4.2% tak gir gaya jo ke May mein 4.4% tha, hiring ki tez raftar ke bawajood. Yeh data Bank of England ke liye interest rates cut karne ki zaroorat ko kam karega 2024 mein, jo ke UK aur pound ke interest rate expectations ko boost karega.
British stocks stock exchange platform par gir gaye. FTSE 100 index Tuesday ko thoda gir gaya aur 8,300 points par trade kar raha tha, jo ke pichle din teen hafton ke high par tha. Yeh girawat energy stocks ke wajah se hui, Shell aur BP ne oil prices ke girne ke bawajood 1.5% se zyada girawat dekhi. Industrial minerals mine karne wale companies ke shares bhi copper prices ke girne ke bawajood losses ka shikaar hue.
Daily chart ke development ke mutabiq, GBP/JPY price abhi bhi neeche ki taraf hai aur agar bulls pair ko resistance levels 193.70 aur 196.00 ke taraf kheench lete hain to target change ho sakta hai. Iske liye investors ko risk appetite ko wapas lana hoga aur yen ko safe-haven asset ke tor par kharidna band karna hoga.
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