GBP/JPY breakout could occur - Technical Analysis - Dukascopy Bank
Fri, 07 May 2021 06:38:26 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
25%
30%
-19.8%
Shorts
75%
70%
6.6%
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 Pound Sterling fell by 69 pips or 0.45% against the Japanese Yen on Thursday. The currency pair breached the 50– hour simple moving average during yesterday's trading session.
Everything being equal, the exchange rate could continue to decline during the following trading session. A breakout through the lower boundary of an ascending channel pattern might occur.
However, the 200– hour SMA at 151.50 could still provide support for the currency exchange rate in this session.
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