Cross-rates: GBP/JPY is limited to the downward channel - Ester Holdings
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Cross-rates: GBP/JPY is limited to the downward channel

Cross GBP/JPY, in conditions of preserving risks for Brexit and the global economy, looks very overbought, given the inclination of the UK government to the hard Brexit. Technically, the pair also looks overbought in the conditions of maintaining the general downward trends.

Deals for sale are better to open on the formation of a turn to consolidate below the zone: 134.70-50.

This will indicate a resumption of the downward trend and will open the way to support levels: 134.00 and 133.70. Resistance is located at levels: 134.90 and 135.20.


Read also: “Trade in currency baskets”

Hanzenko Anton


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