Cross-rates signals: GBP/JPY returns to the “head and shoulders” figure!

Earlier, due to the growth of pound optimism, this cross-rate managed to get away from significant support (neck level) and form a new extremum, but without updating the maximum. What, as a result, caused the formation of the elongation of the right shoulder and put the doubt under the forecast “Signals on cross-rates: GBP / JPY continues to form a reversal pattern“. But, due to fundamental factors, namely, the review of political tension in the UK, this cross is returned to the same conditions.

Now the neck level passes in the zone 148.10-147.80. The breakthrough of this zone will indicate the work off of this figure. But, given such a rapid sell-off of the pound, one should expect a correction to the resistance of 148.50-80, from which the resumption of sales is possible. The goal is the levels: 147.70, 147.00 and 146.60-70.

For more details about the figures and not only, please refer to: “The main figures for earning in the financial markets!“

Hanzenko Anton