GBP/JPY breakout occurs - Technical Analysis - Dukascopy Bank
Fri, 30 Apr 2021 07:46:58 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
27%
28%
-2.9%
Shorts
73%
72%
1.1%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Sell
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇗
⇒
The British Pound has declined by 85 pips or 0.56% against the Japanese Yen since yesterday's trading session. A breakout occurred through the lower boundary of an ascending channel pattern during the Asian session on Friday.
Given that a breakout has occurred, bearish traders are likely to continue to pressure the currency pair lower during the following trading session. The potential target for bears could be near the 200– hour SMA at 150.67.
The GBP/JPY currency exchange rate could rebound from the 200– hour SMA support line at 150.67 within this session.
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