The Currency pair Pound Yen GBP/JPY is trading at 138.729. The pair continues to move below the moving average with a period of 55, indicating a bearish trend for Pound Yen. At the moment, quotes of the pair test the average border of the bars of the indicator Bollinger Bands. It is worth waiting for an attempt to grow and test the upper border of the bands, where again we should expect an attempt to continue the decline with the first goal near the level of 137.40.
Bollinger Bands forecast GBP/JPY on March 27, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bars at 139.40. The abolition of the continuation of the fall of Pound Yen will be a breakdown of the upper border area, as well as the moving average and the closing of the pair’s quotes above the area of 139.80, indicating a change in the trend in favor of bullish on GBP/JPY. In the event of a breakdown of the lower boundary of the indicator bars, it is expected to accelerate the fall of the pair into the area below the level of 137.40.
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