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GBP/JPY Outlook (22 February 2022)

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Overall, GBP/JPY is ranging across.

The UK flash PMI data released yesterday indicated continued expansion in the manufacturing sector while the services sector expanded at a much faster pace than previous date release.
- Flash Manufacturing PMI (Actual: 57.3, Forecast: TBA, Previous: 57.3 revised from 56.9)
- Flash Services PMI (Actual: 60.8, Forecast: TBA, Previous: 54.1 revised from 53.3)

Bank of England committee member Ramsden will be speaking later at 1845 (GMT+8). During this time, there may be volatility in GBP.

Currently, GBP/JPY is testing the support zone of 156.000 and the next resistance zone is at 158.000.
Look for short-term selling opportunities of GBP/JPY if it breaks the support zone of 156.000.

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