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

The GBP/JPY cross-rate appreciably adjusted on the growth of the pound, caused by a day off in the UK and the weakness of safe assets. At the same time, the GBP/JPY pair continues to maintain a downward trend and is limited to psychology 148.00.

Therefore, in the current conditions, the GBP/JPY cross is expected to return to a downtrend. Thus, consolidation below 147.80-60 will open the way for sellers to support levels: 147.00, 147.70 and 146.00, which will indicate a full resumption of the downtrend. Closing of the day above 148.00-40, cancels expectations for a decline.

Fig. GBP/JPY. Current price – 148.00

Hanzenko Anton