Currency pair British Pound to Japanese Yen GBP/JPY continues to move as part of the correction. At the time of publication of the Forex forecast, the British Pound to the Japanese Yen rate is 147.95. At the moment, we can expect a test of the resistance level near the area of 148.65, then a rebound and a continuation of the decline in GBP/JPY quotes to the area below the level of 146.05.
GBP/JPY forecast British Pound October 4, 2018
A test of the trend line on the relative strength index (RSI), as well as a rebound from the upper limit of the downward channel, will be in favor of reducing the GBP/JPY pair. 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 149.00, which will indicate a breakdown of the upper border of the channel and continued growth of GBP/JPY quotes to the area above the level of 149.95. 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 147.00.
GBP/JPY forecast British Pound October 4, 2018 suggests an attempt to test the resistance area near the level of 148.65 and continue to drop the pair to the area below 146.05, in favor of the fall, a test of the downward trend line on the relative strength index (RSI) there will be strong growth and a breakdown of the area of 149.00.
