GBP/JPY 4H Chart: Breakout occurs

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

The Pound Sterling has depreciated about 178 base points against the Japanese Yen since April 18. A breakout occurred through the lower boundary of a four-month ascending channel pattern at 145.76.

Given that a breakout had occurred, most likely, the currency pair will continue its decline within this week's trading session. The short-term target for bears would be at 143.93.

Although, the currency exchange rate faces a support level formed by the weekly S2 at 144.21.

If the support line holds, a brief upward retracement could be expected during the following trading sessions.

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