The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
USD/JPY: bulls will fight till the end
2019-11-11 • Updated
TP1 115.30 TP3 116.25
On the daily chart, after reaching 88.6% target of an inverted “Shark” pattern and a pullback USD/JPY resumed the short-term uptrend. A break of resistance at 114.35 will open the way to 113% target and 78.6% level of the descending long-term wave.
On H1, USD/JPY keeps forming a “Widening wedge”. A break of resistance at 114.30 will be a signal for buying. On the other hand, return of the pair to support at 113.30 will allow to think about selling.
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