Cross-rates signals: GBP/JPY resumes decline

After Friday’s rapid growth of the cross-rate GBP/JPY on the general yen weakening, this cross tested the resistance 148.90, from which the resumption of the downward trend began.

At the moment, the cross-rate GBP/JPY is trading near the level of 148.20-30, from which it is worth considering further sales, as a minimum to support 147.80-70. The break through this support level will open the way to 147.30-20. Resistance is located at the levels: 148.50 and 148.70.

Recommended for reading: Technical analysis of cross-rates.

Hanzenko Anton