GBP/JPY 4H Chart: Breaking of Patterns

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

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

After the recent development and breaking of various minor channel patterns the Pound has revealed a new direction and a new long term pattern against the Japanese Yen. 

In general, the most junior channel up patter was broken at the end of the last week. Meanwhile, a dominant descending channel was broken previously. The possible breaks could have been spotted beforehand. However, due to the fundamental changes in the both currency pairs, Dukascopy absolved from reviewing this currency pair.

 Although, the pair has revealed a dominant support line, which is set to guide the pair to the levels above the 150.00 mark.

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