Indicator | 1H | 4H | 1D |
MACD (12; 26; 9) | Buy | Buy | Buy |
RSI (14) | Neutral | Sell | Sell |
Stochastic (5; 3) | Sell | Sell | Sell |
Alligator (13; 8; 5) | Buy | Buy | Buy |
SAR (0.02; 0.2) | Sell | Buy | Buy |
Aggregate | ⇒ | ⇒ | ⇒ |
The situation on the GBP/JPY currency pair has been massively affected by the various fundamental events on both sides of the rate. First of all the British macroeconomic data releases have forced the pound higher. Secondly, the Japanese Yen has fallen due to the recent turmoil on the Korean peninsula.
However, the surge can be mapped by a short term channel up pattern. Although, the channel has already reached the upper boundary of a recently spotted dominant ascending channel pattern.
Due to that reason it can be expected that the junior pattern will be broken and the pair will decline down to meet with the 55-hour SMA.