Cross-rates signals: GBP/JPY keeps a downward trend
The GBP/JPY cross, after updating the annual low at 139.90, moved to correction. As a result, a test of the upper boundary of the downward channel is observed, which is located at the levels: 141.00 and 1.141.30. The overall downward trend for this pair remains, which is facilitated by risks around Brexit and negative sentiment in the market.
Transactions for the sale of the GBP/JPY pair should be considered from the levels of 140.80-140.50. Significant resistance is the mark: 141.30 and 141.50, the breakdown of which will cancel expectations for declines. Support is located at the levels: 140.30-00 and 139.80-50.
Read also: “British Pound (GBP) – Features of Trading on Crosses”
Hanzenko Anton
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