| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇒ |
The British Pound has been surging in an ascending channel pattern against the Japanese Yen since the middle of September. The currency pair has edged lower by 2.00% since last week's trading sessions.
Given that the exchange rate has bounced off from the lower line of the ascending channel pattern, bullish traders are likely to pressure the GBP/JPY pair towards the 140.00 level during next week's trading sessions.
However, a resistance cluster formed by the weekly and the monthly PPs and the 50– and 200– period SMAs near the 137.50 area could provide a barrier for the currency exchange rate in the shorter term.