GBP/JPY 4H Chart: Bearish sentiment

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

Since May 3, the British Pound has depreciated about 357 base points against the Japanese Yen. The pair was pressure south by the 50-, 100– and 200-hour simple moving averages.

Most likely, the decline could continue during the following trading sessions. The potential downside target for the exchange rate will be near a support cluster at 142.35.

If the support cluster holds as mentioned above holds, a possible bullish momentum could take control of the currency exchange rate within the coming days.

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