Pound Yen forecast GBP/JPY on March 5, 2018


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

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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