GBP/JPY 4H Chart: Set for breakout

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The Pound Sterling has appreciated about 328 base points against the Japanese Yen. The currency pair reached near the upper boundary of a descending channel pattern during yesterday's trading session.

Currently, the exchange rate is trading near the upper band of the descending channel at 146.79 and could be set for a breakout.

If this breakout occurs, the currency exchange rate could aim for a swing high of 148.75 during the following trading sessions.

However, a resistance cluster formed by the combination of the weekly and the monthly pivot points at 147.69 could hinder such movement.

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