ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPJPY has gained momentum
Bank of Japan Governor Kuroda’s statement that they will continue loose monetary policy until reaching 2 percent target inflation target. In addition, the Bank is expected to defend the yield curve. On the other side, the Bank of England meeting will be concluded today at 14:00 (GMT+2) and the markets expect a 25-bps-hike from the BoE, which increased the rates 40 bps in total, leading to strong movements for GBP. Technically, the pair is trying to exceed the upper line of the descending channel and if it becomes successful, we will follow 157.00 and 157.50 resistance levels. On the other hand, 155.95 – 155.45 will be our support zone below.
