Cross-rate signals: GBP/JPY returns to the side triangle

The GBP/JPY cross-rate, after disappointing inflation data in the UK, updated the week’s lows at 152.00-20, thereby forming a bottom on which recovery is traced. Significant resistance is the level of 153.00-20, consolidation above which will open the way to resistance levels: 153.50 and 153.80. The support is located at the level of 152.60-50, the fall of the pair below of it will cancel the expectation for strengthening.

Fig. GBP/JPY. The current price is 152.80.

Hanzenko Anton