Cross-rate sigmals: GBP/JPY slows down

After updating the low at 152.00, the pair GBP/JPY is traded with the strengthening. In addition to the fact that this pair remains in a short-term downtrend, the general upward trend persists, which has been traced since August of last year.

Taking into account that the GBP/JPY pair broke off the lower border of the ascending channel (level 152.00-50), one should expect the uptrend to resume. The signal of entering the transaction will serve the fixation of the price above the short-term downtrend, level 153.50-90. The re-test of the support levels is also possible: 152.80 and 152.00. In case of the resumption of the uptrend, one should expect a test of resistance levels: 155.00-40 and 156.00-50.

Fig. GBP/JPY. The current price is 153.30.

Hanzenko Anton