GBP/JPY could continue to trend lower - Technical Analysis - Dukascopy Bank
Thu, 08 Apr 2021 07:21:21 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
27%
30%
-12.1%
Shorts
73%
70%
4.4%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Buy
Neutral
Sell
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇑
⇗
The British Pound declined by 128 pips or 0.84% against the Japanese Yen on Wednesday. The currency pair breached the 151.00 level during Wednesday's trading session.
Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, the GBP/JPY exchange rate could continue to trend lower during the following trading session.
However, a support level at 150.72 could provide support for the currency exchange rate in the shorter term.
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