Cross-rates signals: GBP / JPY forms an upward triangle
The GBP / JPY cross-rate, after a two-week flat movement, formed an upward triangle, which is limited by resistance level 148.00, thereby confirming the exit from the general downtrend, which was traced to the end of May.
The consolidation of the cross GBP / JPY above 148.00 will indicate the acceleration of the uptrend and will open the way for buyers to resistance levels: 149.00 and 149.40. Support is located at the levels: 147.50 and 147.20. Exit from the channel will call into question the possibility of growth cross.
GBP / JPY Graph. Current price – 147.50
Hanzenko Anton