| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Buy |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
An eight-week descending channel has guided the British Pound lower against the Japanese Yen. The currency pair breached the upper boundary of the channel pattern on June 21.
As for the near future, it is likely that the GBP/JPY currency pair will edge higher. The possible target for bullish traders will near a resistance cluster formed by the combination of the 200-hour simple moving average and the weekly R2 at 138.20.
If the resistance cluster holds, a currency exchange rate could make a retracement towards the weekly S1 at 135.70 during the following trading sessions.