ANALYSIS
NQ100 Finds Support from PPIApr 14
GBPJPY Tries to Protect the Rising Channel
While the expansionary monetary policies of the Bank of Japan (BoJ) officials keep the parity in the upward channel, the statements that the Bank of England (BoE) interest rate hikes are coming to an end cause decreases. While the 162.95 level, which coincides with the lower band of the ascending channel, is in the critical support position, closings above this region may carry the pair back to the 164.05 and 164.42 resistances. However, if the 162.95 support fails to break the current pressure, the declines to 161.75 level may be hardened.
