GBP/JPY 4H Chart: Stranded between SMAs - Trade Pattern Ideas - Dukascopy Bank
Thu, 14 Feb 2019 06:28:20 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Sell
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Sell
SAR(0.02;0.2)
Buy
Buy
Buy
Aggregate
⇗
⇗
⇒
The Pound Sterling has appreciated about 221 base points against the Japanese Yen during the past week. The exchange rate has breached the weekly pivot point at 142.51.
Currently, the currency pair is stranded between SMAs. The 100-hour simple moving average is providing resistance for the rate art 142.86, while the 50-hour SMA is providing support.
Technical indicators suggest that the currency exchange rate could maintain its ascending channel during the following trading sessions. The potential upside target will be at the 145.00 mark.
However, the rate could reverse from the current price level and breaks the channel pattern.
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