Cross-rate signals: GBP/JPY is near significant resistance
Cross GBP/JPY, after a restrained correction, came close to the significant resistance levels: 137.30-60 again, which correspond to the upper boundary of the monthly downward channel. At the same time, the political risks and the risks of Brexit are enhanced without a deal.
Deals for sale should be considered in the range 137.00-136.60.
This will indicate a resumption of the downward trend and open the way to support levels: 136.00 and 135.50. Also while entry to the sale it is needed to wait for the formation of a reversal signal.
Read also: “Fractals. Another simple indicator for earnings»
Hanzenko Anton
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