According to analysts Bank of Tokyo Mitsubishi UFJ, the following week, the British pound may decline against the yen to a minimum of two after a pair of support at 154.08 Breaks - This level represents a line of the neck in a model of "head and shoulders" formation which ended yesterday, when the British pound closed at 153.15. Sixth of July the British pound fell to 153.04, while the seventh was closed at 153.15, down below the neck in the region of 154. Thus, the Bank believes that the downward trend of cross-rate increase. Currency strategists Bank of Tokyo Mitsubishi UFJ believes that the pound / yen will continue to decline until the area between the levels of 145.89, which represents a 38.2% correction of the growth of minimum 12 January at 118.85 to the maximum of 12 June to 162.60, and 145.74, where the 200-day moving average. At this time, a pair of pound / yen trading at around 151.51.
No comments:
Post a Comment