Сross-rates signals: GBP JPY retains potential for growth

Cross GBP/JPY, amid pessimism, retreated from two-week highs, but maintains an upward trend. The increased negotiations in the UK Parliament regarding Brexit indicate a growing likelihood of a Brexit deal, which in turn supports the British.

The main driver of the GBP JPY pair decline is market correction and pessimism. In the face of renewed optimism, we can expect a growth of the pound against the yen.

Deals for the purchase should be considered above the zone 146.50-70.

This opens the way to resistance levels: 147.20 and 147.50. Support is located at the levels: 146.30 and 146.00, the lower boundary of the rising channel.

Read also: “Expectations from the NZD/USD pair  year’s end”

Hanzenko Anton

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