Currency pair GBP/JPY British Pound to Japanese Yen is trading at 148.81. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the pair of Pound/Yen. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the 149.10 level, from which it is expected to attempt a rebound and further develop the bearish trend with a target to falling near the level of 146.30.
Pound Yen forecast GBP/JPY on February 26, 2018
Earlier, a medium strength signal was received for the sell of the Pound/Yen pair, due to the crossing of the signal lines at 149.45. The cancellation of the fall of the pair quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 151.50, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall of the GBP/JPY quotations with the breakdown of the support area and the closing below the level of 148.10.
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