Cross-rates signals: GBP/JPY is under pressure of correction

After new data on negotiations on Brexit, the British pound managed to update a maximum of a year against the yen. But based on the publication of data on the UK trade balance, the pound was under pressure, which also affected GBP/JPY cross.

As a result, the GBP/JPY remains under pressure of correction and is limited to 152.00 support, from which it is expected to be repulsed. At the same time, the potential for further reduction of the cross is maintained, and when it breaks through the support 152.00, one should expect further decline to levels: 151.50-60 and 151.00. Fixing a pair above resistance 152.50-60 cancels the scenario for a decline.

Fig. GBP/JPY. The current price is 152.20.

Hanzenko Anton