© Dukascopy Bank SA
Today GBP/JPY advanced even higher, and at the particular moment the currency couple confronts the weekly S1 at 125.73, which is expected to stop the current movement. In case it is breached, then the price might advance even higher and reach the 200-day SMA, which in turn is very likely to bring some bearish impetus. Moreover, RSI indicator shows a neutral signal, as well as the overall indicator outlook has changed from positive to neutral. On the other hand, current supports are at 124.66, 124.42 and 123.47, and they seem to be safe for now.
Traders' sentiment
Traders at SWFX market have slight uptrend expectations, since 57% of traders hold long positions and 43% of traders hold short positions. The situation with orders shows strong uptrend expectations, as 73% of traders ordered to buy and only 27% ordered to sell the British Pound.
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