Cross-rates signals: GBP/JPY retains the potential to decrease

After waiting for correction, the cross-rate GBP/JPY remains in a downward trend, which is caused by the persistence of negative sentiments about the Brexit negotiations and the movement of this pair in a downtrend.

Given the uncertainty of the negotiations between the EU and the UK, one should expect a resumption of the GBP/JPY decline from the resistance level at 151.30-50. In turn, the support level is 150.50-30, the breakthrough of this level will indicate the resumption of the downward trend to the support levels: 149.70 and 149.00. Closure of the day above the 151.00 mark, cancels the scenario for a decline. Resistance levels: 151.30 and 151.80.

GBP/JPY graph. The current price is 150.60.

Hanzenko Anton