GBP/JPY bears likely to prevail - Technical Analysis - Dukascopy Bank
Fri, 14 May 2021 06:52:02 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
26%
28%
-6.5%
Shorts
74%
72%
2.3%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Sell
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 declined by 78 pips or 0.50% against the Japanese Yen on Thursday. The currency pair breached the 50– hour simple moving average during Thursday's trading session.
The GBP/JPY exchange rate is likely to continue to edge lower during Friday's trading session. The potential target for bearish traders could be near the 200– hour SMA at 152.78.
However, sellers could encounter a barrier at the 153.30 level during the following trading session.
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