GBP/JPY could edge higher

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs27%25%6.5%
Shorts73%75%-2.4%
Indicator4H1D1W
MACD(12;26;9)BuySellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuySellNeutral
SAR(0.02;0.2)BuyBuySell
Aggregate

On Friday, the British Pound declined by 61 pips or 0.41% against the Japanese Yen. The currency pair tested the psychological support level at 151.00 during Friday's trading session.

Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could edge higher within this session. The potential target for buyers would be near the 152.50 level.

However, the GBP/JPY currency exchange rate may encounter resistance at 151.77 during the following trading session.

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