GBP/JPY 4H Chart: Set for breakout

Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

The Pound Sterling has appreciated about 328 base points against the Japanese Yen. The currency pair reached near the upper boundary of a descending channel pattern during yesterday's trading session.

Currently, the exchange rate is trading near the upper band of the descending channel at 146.79 and could be set for a breakout.

If this breakout occurs, the currency exchange rate could aim for a swing high of 148.75 during the following trading sessions.

However, a resistance cluster formed by the combination of the weekly and the monthly pivot points at 147.69 could hinder such movement.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.