GBP/JPY 4H Chart: Breakout occurs

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
 MACD(12;26;9) Buy Buy Sell
 RSI(14) Sell Sell Neutral
 Stochastic(5;3;3) Neutral Sell Sell
 Alligator(13;8;5) Buy Buy Neutral
 SAR(0.02;0.2) Buy Buy Buy
 Aggregate

Upside risks dominated the British Pound versus the Japanese Yen during the past week. The currency pair appreciated about 2.89% during last week's trading session.

A breakout occurred through the upper boundary of a dominant descending channel at 147.00 at the end of Wednesday's trading session.

Given that a breakout had occurred, it is likely that the GBP/JPY exchange rate continues to gain strength.

However, it is expected that the currency exchange rate makes a brief retracement down towards a support level at 144.03 in the short-term.

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