Cross-rates signals: GBP/JPY is near significant resistance

The GBP/JPY cross, amid the correction after the decline and decline in demand for safe assets, approached a significant resistance of 141.80-142.00. Near this level, the upper limit of the downtrend passes, from which it is expected to repel.

With the return of the pair below 141.50, you should expect a test of support levels: 140.50 and 140.00. Fixing a pair above 141.80-142.00 calls into question the safety of a downtrend.

 

Read also: “Fundamental analysis: interest rate and its impact on the exchange rate”

Hanzenko Anton

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