Сross-rate signals: GBP/JPY slows down

The pair GBP/JPY, after a two-week decline, broke off from the support level of 148.00. In conditions of maintaining a downtrend, which is a correction of the pair’s growth from July 2017.

The 148.00-50 zone remains a significant support level, from which the formation of a reversal with a further resistance test of 150.00-50 is expected. The fixing of the price below 148.00 cancels the scenario for a decline.