Currency pair GBP/JPY British Pound to Japanese Yen is trading at 148.46. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the pair of Pound Yen. The test area of Ichimoku Kinko Hyo signal lines near the level of 148.20 is expected, from which it is expected to attempt a rebound and further development of the bullish trend with the aim of growth near the level of 150.45.
Pound Yen forecast GBP/JPY on March 16, 2018
An additional signal in favor of growth will be a test of the support level, as well as a test of the lower boundary of the channel. Earlier, a weak signal was received for buy of the Pound/Yen pair, due to the crossing of the signal lines at the level of 146.70.
The cancellation of the growth of the quotes of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 146.60, which will indicate a change in the bullish trend in favor of a bearish trend. Expect the acceleration of the growth of quotations GBP/JPY is with the breakdown of the resistance area and the closing above the level of 149.50.
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