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GBP/JPY possible new impulse for long

GBP/JPY: Our Expectation: Price Action formation with higher lows and as the price held above the Ichimoku cloud are reasons to expect that the pair can continue up from current levels with a SL: 140.41

Alternative Scenario: If the price drops below the Ichimoku cloud and closes there, this will change our view towards short action instead.

Comment: The pair formed three higher lows, which indicates possible change in its medium term trend towards long.

The close of the price above the ichimoku cloud – positive signal

CCI50 above 0, CCI14 above 100 – positive strong long impulse

Тenkan – sen passes above 50 ЕМА and above the Kijun – sen – positive signal

The comments from the lead economist of the BOE, gives a signal for possible increase of the interest rate in the UK in the next few months, due to the low inflation.

Brexit talks so far also show a good tone and good understanding between both side, which is positive for the GBP

Stefan D. Angelov – Head of Stocks Trading


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