GBP/JPY Price Analysis: Prepares for a fresh downside below 171.40 GBPJPY BOE BOJ Inflation SupportResistance
Inflationary pressures in the United Kingdom economy are not in the mood to ditch the double-digit territory despite BoE Governor Andrew Bailey is consistently raising interest rates which have pushed them to 4.50%.
GBP/JPY has faced immense pressure while attempting to cross the crucial resistance plotted from May 02 high at 172.33 on a two-hour scale. The cross is forming aThe asset is hovering near the 20-period Exponential Moving Average at 171.67, indicating a sideways performance.
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