Currency pair British Pound to Japanese Yen GBP/JPY is trading at 142.561. The pair continues to trade below the lower boundary of the Cloud of Ichimoku Kinko Hyo, which indicates a downward trend in the pair of Pound to Yen. It is expected to test the area of signal lines near the level of 143.400, from which one should expect an attempt to fall and further develop the bearish trend near the level of 141.500.
GBP/JPY prediction Pound Yen on May 31, 2017
Previously, a strong signal was received for the sale of the pair GBP/JPY, due to the crossing of the signal lines at 144.400. 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 quotations above the 144,000 area, which will indicate a change in the downward trend in favor of the bullish trend. Expect the acceleration of the fall of the pair GBP/JPY quotations is with the breakdown of the local minimum area at the level of 141.900.
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