GBP/JPY breaks significant resistance line - Technical Analysis - Dukascopy Bank
Tue, 18 May 2021 07:09:40 GMT
Source: Dukascopy Bank SA
Positions
Today
Yesterday
Change
Longs
29%
28%
3.0%
Shorts
71%
72%
-1.2%
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Sell
Sell
Stochastic(5;3;3)
Sell
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇗
The Pound Sterling surged by 84 pips or 0.55% against the Japanese Yen on Monday. The currency pair breached a significant resistance level at 154.30 during Monday's trading session.
Given that the GBP/JPY exchange rate has breached the resistance level, as mentioned above, bullish traders are likely to target the 155.50 area during the following trading session.
However, the weekly resistance level at 155.07 could provide resistance for the currency exchange rate in the shorter term.
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