GBP/JPY 4H Chart: Sets for breakout

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Buy Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Sell
Alligator (13; 8; 5) Sell Buy Sell
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

The British Pound has depreciated about 1.99% in values against the Japanese Yen since January 25. 

The exchange rate is currently trading near the lower boundary of a junior ascending channel pattern at 142.01.

If the currency pair passes the bottom border of the channel pattern, a decline towards a support cluster formed by the 200-hour simple moving average and the weekly S2 at 140,71 could be expected. 

However, if the junior ascending channel holds, bulls might target a resistance level at 144.68 in the shorter term.

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