GBP/JPY Outlook (17 June 2021)

Overall, GBP/USD is ranging across. Recently, GBP/JPY tested but failed to break above the key level of 155.

The UK CPI y/y data released yesterday indicated an increase in annual inflation in May. Inflation rate has now hit the Bank of England’s 2-3% target range.

• CPI y/y (Actual: 2.1%, Forecast: 1.8%, Previous: 1.5%)
  
• Core CPI y/y (Actual: 2.0%, Forecast: 1.5%, Previous: 1.3%)
  

GBP/JPY’s next support zone is at 153.000 and the next resistance zone is at 156.000.
Look for selling opportunities of GBP/JPY.