GBP/JPY could continue to trade sideways - Technical Analysis - Dukascopy Bank
Thu, 15 Apr 2021 07:24:36 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
27%
5.6%
Shorts
71%
73%
-2.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
Stochastic(5;3;3)
Neutral
Buy
Neutral
Alligator(13;8;5)
Sell
Neutral
Buy
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇘
⇒
⇗
The GBP/JPY currency pair has continued to trade sideways since April 8. The British Pound surged by 72 pips or 0.48% against the Japanese Yen during Wednesday's trading session.
Everything being equal, the exchange rate could continue to range between the 150.70/149.50 levels during the following trading session.
However, technical indicators suggest selling signals on the 4H time-frame chart. Most likely, bearish traders might pressure the currency exchange rate lower during the following trading session.
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