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GBP/JPY Signal - JPY Money Supply - 10 Aug 2021

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Signal Details
Entry Price: 
152.81
Take Profit: 
151.51
Stop Loss: 
153.63
Direction: 
Sell
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Average: 5 (1 vote)

GBPJPY has broken the support trendline prior to the JPY Monetary Supply data, which measures all the JPY in circulation, encompassing notes and coins as well as money held in bank accounts. It is considered as an important indicator of inflation, as monetary expansion adds pressure to the exchange rates.
Technically the RSI is bearish and the pair has broken the ascending trendline of a corrective move in a bear market.

Submitted by Toni H. on Tue, 10 Aug 2021 00:29:34 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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