Currency pair British Pound to Japanese Yen GBP/JPY continues to move within the «Triangle» model. At the time of publication of the Forex forecast, the British Pound to Japanese Yen rate is 148.83. At the moment, we can expect a test of the resistance level near the area of 149.45, then a rebound and a continued decline in the GBP/JPY quotes to the area below the level of 145.55.
GBP/JPY forecast British Pound October 11, 2018
In favor of reducing the pair GBP/JPY will test the trend line on the indicator of relative strength index (RSI). Cancellation of the option of falling quotations of the currency pair Pound/Yen at Forex will be a strong growth and a breakdown level of 149.60, which will indicate a breakdown of the upper limit of the «Triangle» model and continued growth of GBP/JPY quotes in the area above the level of 150.50. Waiting for confirmation of the pair’s fall is with the breakdown of the lower boundary of the «Triangle» model and closing of quotations below 147.05.
GBP/JPY forecast British Pound October 11, 2018 suggests an attempt to test the resistance area near the level of 149.45 and continue to drop the pair to the area below the level of 145.55. there will be strong growth and a breakdown of the area 149.60.