Currency pair British Pound to Japanese Yen GBP/JPY continues to move as part of the formation of the bullish pattern «Wolf Wave». At the time of publication of the FOREX forecast, the British Pound to Japanese Yen rate is 145.41. At the moment, we can expect a decline and a test of the support level near the area of 144.05. Further, the rebound and continued growth of the GBP/JPY quotes to the area above the level of 147.95.
GBP/JPY forecast British Pound April 3, 2019
A test of the trend line on the relative strength index (RSI) will be in favor of lifting the GBP/JPY pair. As well as a rebound from the lower boundary of the model «Wolf Wave». Cancellation option growth quotes currency pair British Pound/Japanese Yen at FOREX will fall and the breakdown level of 143.00. This will indicate a breakdown of the lower boundary of the model and the continuation of the fall in GBP/JPY quotes to the area below 141.75. Expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closure of quotations above 146.45.
GBP/JPY forecast British Pound April 3, 2019 suggests an attempt to test the support area near the level of 144.05. Further, the pair continues to grow to an area above 147.95. A test of the rising trend line on the relative strength index (RSI) will be in favor of the rise. Cancellation of the growth of quotations of the currency pair will be falling and the breakdown of the area of 143.00. This will indicate a continued decline.