Instrument: GBPJPY
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 180.938 with take profit at 181.558.
Bearish Preference:
A sell position is envisaged if the price trades below 180.046 with take profit at 179.344.
Fundamentals:
9:30am GBP Consumer Inflations Expectations
Comment:
The policy meetings of the BOJ agreed to Yield curve control (a unanimous vote) which made the Bank set the following guideline for market operations for the intermittent period. As regards the short-term policy interest rate, the Bank will apply a negative interest rate of minus 0.1 percent to the Policy-Rate Balances in current accounts held by financial institutions at the Bank. The long-term interest rate: The Bank will purchase a necessary amount of Japanese government bonds (JGBs) without setting an upper limit.
Analysis: SCRUM Team