GBP/JPY decline to continue - Technical Analysis - Dukascopy Bank
Fri, 09 Apr 2021 06:58:49 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
30%
27%
10.6%
Shorts
70%
73%
-4.5%
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 Pound Sterling has continued to edge lower against the Japanese Yen since this week's trading sessions. The currency pair declined by 105 pips or 0.70% during Thursday's trading session.
Everything being equal, the GBP/JPY exchange rate is likely to continue to decline in a narrow descending channel pattern during the following trading session. The potential target for bearish traders will be near the 149.00 area.
However, the weekly S2 at 149.62 could provide support for the currency exchange rate in the shorter term.
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