GBP/JPY breakout could occur - Technical Analysis - Dukascopy Bank
Tue, 06 Apr 2021 07:17:00 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
65%
-147.8%
Shorts
74%
35%
52.6%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
Sell
Sell
Stochastic(5;3;3)
Neutral
Sell
Sell
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇒
⇒
On Monday, the British Pound surged by 42 pips or 0.27% against the Japanese Yen. The currency pair was guided by the 50– hour simple moving average during yesterday's trading session.
The exchange rate is currently trading near the lower boundary of a junior ascending channel pattern at 153.13 and could be set for a breakout.
If the breakout occurs, a decline towards the weekly pivot point at 152.24 could be expected within this session.
However, if the channel pattern holds, buyers might target the 154.00 level during the following trading hours.
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