The Currency pair Pound Japanese Yen GBP/JPY is trading at 138.405. 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 test of signal lines near the level of 138.950 is expected, from which one should expect an attempt to fall and develop a bearish trend for this pair in order to reduce the level of 136.900.
Ichimoku Kinko Hyo forecast GBP/JPY on March 28, 2017
Previously it received a strong signal to sell the pair Pound Yen, by the intersection of the signal lines at the level of 139,300. 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 139.500, indicating a change in the downward trend in favor of the ascending trend. Expect the acceleration of the fall of quotations GBP/JPY is with the breakdown of the local minimum area at 137.900.
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