Currency pair British Pound to Japanese Yen GBP/JPY continues to move in the bearish channel. At the time of publication of the Forex forecast, the British Pound to Japanese Yen rate is 142.08. At the moment, we can expect a test of the resistance level near the area of 142.35. Further, the rebound and the continuation of the decline in GBP/JPY quotes to the area below the level of 139.50.
GBP/JPY forecast British Pound February 13, 2019
In favor of reducing the pair GBP/JPY will test the trend line on the indicator of relative strength index (RSI). As well as a rebound from the upper boundary of the descending channel. Cancellation of the option of falling quotations of the currency pair Pound/Yen at Forex will be a strong growth and a breakdown of the level of 143.30. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of GBP/JPY quotes to the area above 144.65. It is necessary to wait for confirmation of the pair’s fall with the breakdown of the support area and closing of quotes below the level of 141.35.
GBP/JPY forecast British Pound February 13, 2019 involves an attempt to test the resistance area near the level of 149.45. Further, the continuation of the fall of the pair in the area below the level of 145.55. In favor of the fall will make a test of the downward trend line on the indicator of relative strength index (RSI). Cancellation of the option to reduce the currency pair quotes will be a strong growth and the breakdown of the area of 149.60. This will indicate continued growth.