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    Market analysis GBP/JPY Outlook (22 September 2020)

    Related product:Forex
    Market analysis:Overall, GBP/JPY is trending downwards. Recently, GBP/JPY trended lower, breaking below the key level of 135 after a strengthening in USD due to an increase in demand caused by a strong sell-off in various stock markets.

    The Bank of England Governor Andrew Bailey will be speaking at a webinar later at 1530 (SGT). During this time, there may be volatility in GBP.

    Japanese banks will be closed today in observance of Autumnal Equinox Day. Lower trading volume and volatility is expected during the Japanese trading hours.

    The Japanese Flash Manufacturing PMI data (Forecast: 48.0, Previous: 47.2 revised from 46.6) will be released tomorrow at 0830 (SGT).

    Currently, GBP/JPY is testing the support zone of 133.780 and the next resistance zone of 136.200.
    Look for selling opportunities of GBP/JPY if it breaks the support zone of 133.780.

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