Cross-rate signals: GBP/JPY resumes decline

After growth and update of the March maximum, the pair GBP/JPY was near the upper border of the descending channel, from which the repulsion is possible. An additional factor indicating a decrease is the inability of the pair to gain a foothold above 148.00, which indicates the preservation of downward dynamics.

The reversal zone is located in the range from 147.10 to 146.40-30, the consolidation below which will indicate a further decline in the pair GBP/JPY. Levels of resistance are: 147.10-50 and 148.00. The goals are located at support levels: 145.50-00, 144.50 and 143.50-00.

Fig. GBP/JPY chart H4. The current price is 146.90.

Hanzenko Anton