| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇘ | ⇒ |
The British Pound has surged by 222 pips or 1.68% against the Japanese Yen since June 26. The currency pair breached the upper boundary of a descending channel pattern during yesterday's trading session.
Given that a breakout had occurred, bullish traders could continue to pressure the exchange rate higher during the following trading sessions. The possible target for bulls would be at the 135.92 level.
However, a resistance cluster formed by the weekly resistance line and the monthly pivot point at 135.06 could provide resistance for the currency exchange rate within this week's trading sessions.