{"id":154317,"date":"2019-08-28T10:45:19","date_gmt":"2019-08-28T14:45:19","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=154317"},"modified":"2019-08-28T05:39:12","modified_gmt":"2019-08-28T09:39:12","slug":"gbpjpy-analysis-getting-ready-for-publication-of-economic-data-in-japan","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/gbpjpy-analysis-getting-ready-for-publication-of-economic-data-in-japan\/","title":{"rendered":"GBPJPY Analysis: Getting ready for publication of economic data in Japan"},"content":{"rendered":"
August 28, 2019<\/div>
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By IFCMarkets<\/a><\/strong><\/p>\n

Getting ready for publication of economic data in Japan<\/strong><\/p>\n

The British Labor Party, along with other opposition movements, said they would not allow the country to leave the European Union without a mutual agreement. Will the GBPJPY quotations<\/a> grow?<\/p><\/blockquote>\n

The upward movement indicates strengthening of the British pound and weakening of the Japanese yen. Earlier, the British Prime Minister, a representative of the Conservative Party, Boris Johnson, said that Britain would leave the EU on October 31, 2019, regardless of whether the agreement was signed or not. The parliamentary opposition of Great Britain is going to force the prime minister to either postpone Brexit or conclude an agreement with the European Union. To do this, it can block the adoption of the necessary laws. French President Emmanuel Macron said that he was ready to help in softening the conditions for Britain to exit the EU. Concluding a Brexit agreement can significantly reduce economic risks for the British economy and help strengthen the pound. In turn, macroeconomic data may have a negative impact on the yen. August 30, 2019 will be published: inflation in Tokyo, unemployment, retail sales, data on the number of start of construction of houses and other indicators. Most forecasts look negative. In addition, the yen is considered by investors as a protective asset in case of increasing global risks. It may fall in price amid US-Chinese trade negotiations.<\/p>\n

\"GBPJPY\"<\/p>\n

On the daily timeframe GBPJPY: D1<\/b> adjusted upward from the low since October 2016. Before opening a buy position, a downtrend resistance line should be broken.Various technical analysis indicators have generated signals to increase. Further growth of quotes is possible in case of positive news about Brexit and negative macroeconomic data in Japan.<\/p>\n