{"id":215214,"date":"2023-12-19T03:57:13","date_gmt":"2023-12-18T22:27:13","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=215214"},"modified":"2023-12-19T03:57:13","modified_gmt":"2023-12-18T22:27:13","slug":"gbp-jpy-treads-water-near-181-00-ahead-of-early-tuesdays-boj-rate-call-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/gbp-jpy-treads-water-near-181-00-ahead-of-early-tuesdays-boj-rate-call-crypto-news\/","title":{"rendered":"GBP\/JPY treads water near 181.00 ahead of early Tuesday&#8217;s BoJ rate call &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>GBP\/JPY is splashing around familiar levels as BoJ rate call looms ahead on Tuesday.<\/strong><\/li>\n<li><strong>BoJ watchers will be keeping a close eye on BoJ Governor Ueda for any hawkish hints.<\/strong><\/li>\n<li><strong>Near-term UK inflation is expected to tick up, but print a slight decline over the year.<\/strong><\/li>\n<\/ul>\n<p>The GBP\/JPY tested back into the 181.00 handle on Monday, but remains caught in a tight near-term range as Guppy traders buckle down for a Tuesday\u00a0showing from the Bank of Japan (BoJ) and Wednesday&#8217;s\u00a0final print of UK Consumer Price Index (CPI) inflation to wrap up 2023.<\/p>\n<p>The Bank of Japan (BoJ) is broadly expected to maintain their negative rate policy, keeping the Japanese central bank\u2019s main reference rate pinned just below zero at -0.1%. BoJ Governor Kazuo Ueda rocked JPY markets in early December after taking an unusually hawkish stance, hinting at the eventual end of negative rates.\u00a0<\/p>\n<p><strong>BoJ Preview: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/boj-preview-forecasts-from-11-major-banks-little-need-to-rush-into-making-policy-changes-202312181602\">Forecasts from 11 major banks, little need to rush into making policy changes<\/a><\/strong><\/p>\n<p>With markets heading into the year-end slowdown, Odds of normalization from the BoJ are functionally zero, but investors will be keeping a close eye on any additional hints from BoJ Governor Ueda about a possible timeline on policy tightening.<\/p>\n<p>The UK will follow up the BoJ on Wednesday\u00a0with one last inflation update for 2023. UK Consumer Price Index (CPI) inflation is expected to show a steady easing in the annualized figures, with YoY CPI forecast through November expected to ease back from 4.6% to 4.4%. Despite a forecast easing in long-term inflation, the near end of the curve is expected to tick upwards, with November\u2019s CPI inflation expected to post a 0.2% increase from October\u2019s reading.<\/p>\n<p>UK Producer Price Index (PPI) figures are also slated to print at 07:00 GMT on Tuesday, and both input and output prices at the production level of the economy are expected to see declines.<\/p>\n<p>UK PPI &#8211; Output is expected to decline from 0.1% to -0.1%, while PPI &#8211; Inputs are forecast to shed nearly a full percent MoM in November from 0.4% to -0.6%.<\/p>\n<p>UK Retail Price Index figures\u00a0are also expected on Tuesday, and markets are expecting near-term retail price growth to rebound from -0.2% to 0.3% in November, while the YoY figure is forecast to slip back slightly from 6.1% to 5.8%.<\/p>\n<p>One last UK <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/economic-calendar\/united-states\">Gross Domestic Product<\/a> (GDP) update for the year will round out the economic calendar for the GBP\/JPY on Friday, with UK economic growth forecast to hold at a flat 0.0% for the third quarter as the UK economy tips closer towards a recession.<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY Technical Outlook<\/h2>\n<p>The GBP\/JPY has seen momentum drain away heading into the new trading week, with intraday bids hammered to the 50-hour Simple Moving Average (SMA), with near-term prices capped by the 200-hour descending into 182.00.<\/p>\n<p>Last week saw a brief decline into a four-month low of 178.35, with bids catching technical support from the 200-day SMA rising through 178.00 and Guppy traders dragging the pair back above the 180.00 major handle.<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY Hourly Chart<\/h2>\n<\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY Daily Chart<\/h2>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/GBP_JPY-638385251174134237.png\" style=\"width: 898px;height: 697px\" \/><\/p>\n<h2 class=\"fxs_headline_medium\">GBP\/JPY Technical Levels<\/h2>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: GBP\/JPY is splashing around familiar levels as BoJ rate call looms ahead on Tuesday. BoJ watchers will be keeping a close eye on BoJ Governor Ueda for any hawkish hints. Near-term UK inflation is expected to tick up, but print a slight decline over the year. The GBP\/JPY tested back into the 181.00 handle [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,367,248,251,246,842,257,409,255,250,252,247,253,249,256,254],"class_list":["post-215214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-cpi","tag-cryptocurrency","tag-gbpjpy","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=215214"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215214\/revisions"}],"predecessor-version":[{"id":215216,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/215214\/revisions\/215216"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7199"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=215214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=215214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=215214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}