Currency pair British Pound to Japanese Yen GBP/JPY is trading at 140.892. 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. The currency pair GBP/JPY is expected to rise near the level of 141.700, from which one should expect an attempt to fall and further develop the bearish trend near the level of 139.200.
GBP/JPY forecast Pound Yen on June 8, 2017
An additional signal in favor of a bearish trend is also the resistance area test. Previously, a strong signal was received for the sale of the pair of Pound/Yen, due to the crossing of signal lines at 142.740. 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 143.500, indicating a change in the bearish trend in favor of the upside. Expect the acceleration of the fall in the quotations of the pair GBP/JPY is with the breakdown of the local minimum area at 139.800.
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