Currency pair GBP/JPY British Pound to Japanese Yen is trading at 145.87. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the pair of British Pound to Japanese Yen. The test area of Ichimoku Kinko Hyo signal lines near the level of 146.70 is expected, from which it is expected to attempt a rebound and further development of the bearish trend with a view to falling near the level of 143.15.
Pound Yen forecast GBP/JPY on March 5, 2018
An additional signal in favor of the drop will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received for the sell of the Pound/Yen pair, due to crossing the signal lines at 149.45.
The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 148.36, 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 is with the breakdown of the support area and the closing below the level of 145.00.
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