GBPJPY Chart Technical Outlook could trade lower on a dovish hike from BoE today
The BoE is due today, and the BoJ is due tomorrow. GBP/JPY can be a very volatile pair to trade today.
Calendars expect a 25 bps hike from the BoE. Money markets share that bias. The recent comments from Governor Bailey were dovish, signaling a near end to the interest rates hiking.
There are no projections or a conference in today’s BoE meeting. Maybe Bailey will show up in the media to say something. I doubt he could convince markets of any further hikes.
Technical indicators support more losses.
My short-term bias is bearish.
Resistances: 183.70, 186.75
Supports: 181.70, 180.00