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

After the total sale of the Japanese currency, the pair GBP/JPY was in the zone of significant overbought and came close to the level of 156.60-80, the upper limit of the rising channel since November last year.

To continue movement in the existing trend, this pair needs to be adjusted, thereby unloading the overbought indicators. At the same time, the main support zone is located at the level of 155.40-00. The breakthrough of this level will indicate the formation of a full-scale correction to the support levels: 154.00-153.70 and 153.30-00.

Fig. GBP/JPY. The current price is 155.90.

Hanzenko Anton