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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