Currency pair British Pound to Japanese Yen GBP/JPY is trading at 142.771. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a downward trend in the pair of Pound Yen. It is expected to test the area of signal lines near the level of 143.600, from which one should expect an attempt to fall and further develop the bearish tendency near the level of 140.500.
GBP/JPY forecast & analysis on May 30, 2017
Previously, a strong signal was received for the sale of the GBP/JPY pair, due to the crossing of the signal lines at 144.400. The cancellation of the fall of the pair’s quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 144.900, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in the quotations of the GBP/JPY pair is with the breakdown of the local minimum area at the level of 141.100.
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