GBP/JPY supported by 50– hour SMA - Technical Analysis - Dukascopy Bank
Thu, 06 May 2021 07:47:36 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
30%
26%
13.8%
Shorts
70%
74%
-5.9%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Sell
Aggregate
⇗
⇗
⇒
The British Pound declined by 48 pips or 0.31% against the Japanese Yen on Wednesday. The decline was stopped by the 50– hour simple moving average during yesterday's trading session.
All things being equal, the exchange rate is likely to continue to edge lower during the following trading session. The potential target for the currency pair could be near the 151.40 area.
However, the 50– hour SMA at 151.86 could still provide support for the currency exchange rate in the shorter term.
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