The Currency pair Pound to Japanese Yen GBP/JPY is trading at 137.797. The pair continues to trade below the lower boundary of the Ichimoku Cloud, which indicates a downward trend in the pair of Pound Yen. A local maximum test is expected near the level of 138.400, from which one should expect an attempt to fall and develop a bearish trend for this pair in order to reduce the level of 136.500.
Ichimoku Forecast GBP/JPY on March 30, 2017
Previously, a strong signal was received for the sale of the pair of Pound Yen, due to the intersection of signal lines at 138.400. The cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 139.200, which will indicate a change in the downward trend in favor of the ascending trend. Expect the acceleration of the fall in quotations GBP/JPY is with the breakdown of the local minimum area at 137.500.
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