Currency pair GBP/JPY British Pound to Japanese Yen is trading at 149.02. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the pair of British Pound to Japanese Yen. Ichimoku Kinko Hyo signal line area test is near the level of 148.90, 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 151.25.
GBP/JPY forecast Japanese Yen for April 2, 2018
An additional signal in favor of growth is the test of the lower boundary of the bullish channel. Previously, a strong signal was received for the buy of the pair of British Pound to Japanese Yen, due to the crossing of the signal lines at 149.00.
The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 148.50, 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 150.60.