Currency pair British Pound to Japanese Yen GBP/JPY is trading at 144.381. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the pair of British Pound to Japanese Yen GBP/JPY. Ichimoku Kinko Hyo Cloud near the level of 144.800 is expected to test the lower boundary of the cloud, from which one should expect an attempt to fall and develop a bearish tendency for the pair to decrease near the level of 140.800.
GBP/JPY forecast & signals on May 24, 2017
Earlier, a weak signal was received for the sale of the British Pound to Japanese Yen GBP/JPY, due to the crossing of the signal lines at the level of 146.900. 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 the pair’s quotations above the area of 146.500, indicating a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall of quotations GBP/JPY pair is with the breakdown of the local minimum area at 141.600.
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