GBP/JPY Pair Ka Analysis
Friday ko GBP/JPY pair ne bullish trend dikhaya aur apni winning streak ko teen din tak barhaya. Yeh upward movement British Pound (GBP) ki strength ke wajah se thi, jo ke positive economic data se support mila. August ka S&P Global/CIPS UK Composite Purchasing Managers' Index (PMI) business activity mein rebound ko dikhata hai, jo July ke 52.8 se barh kar 53.4 tak pohanch gaya. Is improvement mein manufacturing aur services dono sectors ka hissa tha. Positive economic data ne GBP ki appeal ko mazid barhaya, jabke doosri major economies mein mixed picture thi. UK ke recent retail sales data bhi July mein growth ki taraf wapas aa gaye, jo June mein decline ke baad hua. Magar, sab economic indicators favorable nahi the. Government borrowing July mein ummeed se zyada thi, aur consumer confidence aur factory orders mixed trends dikhate hain. Market expectations ab bhi Bank of England (BoE) se 0.25% interest rate cut ki umeed rakhti hain 2024 ke end tak. Kuch analysts to 0.50% tak ke cuts ki bhi prediction kar rahe hain saal ke end se pehle. Lower interest rates se GBP par negative impact ho sakta hai foreign capital inflows ke kam hone ki wajah se, lekin current market narrative kehti hai ke currency ki appreciation limited ho sakti hai.
Dusri taraf, Japanese Yen (JPY) ko Friday ko support mila Bank of Japan (BoJ) ke Governor Kazuo Ueda ke comments ke baad. Ueda ne kaha ke BoJ interest rates ko aur barhane par ghoor kar sakti hai agar economic aur price trends expectations ke sath align karte hain. Is statement ne JPY ke liye potential upward trajectory ka ishaara diya.
Technical Perspective se dekha jaye to GBP/JPY pair ko pehli resistance recent rejection zone par 192.01 par milti hai, jo ke 200-day moving average ke sath overlap karti hai. Agar pair is level ko break kar leti hai to yeh March ke high 193.52 tak jane ka raasta khol sakti hai. Is hurdle ko paar karne ke liye bulls ko June support 197.18 ko bhi conquer karna hoga, jo agay chal kar resistance ban sakta hai. Downside par, support levels 188.22 aur 185.22 hain, jo near-term aur February ke lows ko represent karte hain. Agar pair in levels ko hold nahi karti, to yeh eight-month low 180.07 ki taraf decline kar sakti hai.
Friday ko GBP/JPY pair ne bullish trend dikhaya aur apni winning streak ko teen din tak barhaya. Yeh upward movement British Pound (GBP) ki strength ke wajah se thi, jo ke positive economic data se support mila. August ka S&P Global/CIPS UK Composite Purchasing Managers' Index (PMI) business activity mein rebound ko dikhata hai, jo July ke 52.8 se barh kar 53.4 tak pohanch gaya. Is improvement mein manufacturing aur services dono sectors ka hissa tha. Positive economic data ne GBP ki appeal ko mazid barhaya, jabke doosri major economies mein mixed picture thi. UK ke recent retail sales data bhi July mein growth ki taraf wapas aa gaye, jo June mein decline ke baad hua. Magar, sab economic indicators favorable nahi the. Government borrowing July mein ummeed se zyada thi, aur consumer confidence aur factory orders mixed trends dikhate hain. Market expectations ab bhi Bank of England (BoE) se 0.25% interest rate cut ki umeed rakhti hain 2024 ke end tak. Kuch analysts to 0.50% tak ke cuts ki bhi prediction kar rahe hain saal ke end se pehle. Lower interest rates se GBP par negative impact ho sakta hai foreign capital inflows ke kam hone ki wajah se, lekin current market narrative kehti hai ke currency ki appreciation limited ho sakti hai.
Dusri taraf, Japanese Yen (JPY) ko Friday ko support mila Bank of Japan (BoJ) ke Governor Kazuo Ueda ke comments ke baad. Ueda ne kaha ke BoJ interest rates ko aur barhane par ghoor kar sakti hai agar economic aur price trends expectations ke sath align karte hain. Is statement ne JPY ke liye potential upward trajectory ka ishaara diya.
Technical Perspective se dekha jaye to GBP/JPY pair ko pehli resistance recent rejection zone par 192.01 par milti hai, jo ke 200-day moving average ke sath overlap karti hai. Agar pair is level ko break kar leti hai to yeh March ke high 193.52 tak jane ka raasta khol sakti hai. Is hurdle ko paar karne ke liye bulls ko June support 197.18 ko bhi conquer karna hoga, jo agay chal kar resistance ban sakta hai. Downside par, support levels 188.22 aur 185.22 hain, jo near-term aur February ke lows ko represent karte hain. Agar pair in levels ko hold nahi karti, to yeh eight-month low 180.07 ki taraf decline kar sakti hai.
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