The currency pair Pound Yen GBP/JPY is trading at 138.836. The pair is trading below the Ishimoku Cloud boundary, indicating a downward trend in the Pound Yen pair. It is expected to test the lower boundary of the Ichimoku Cloud near the level of 139.45, from which one should expect an attempt to fall and develop a bearish trend for this pair with a view to lowering the level of 137.95.
Ichimoku Kinko Hyo forecast GBP/JPY on March 23, 2017
Previously, a strong signal was received for the sale of the Pound Yen pair, due to the crossing of the signal lines at 139.55. The abolition of the reduction option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 139.80, 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 138.60.
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