GBP/JPY 4H Chart: Set for breakout - Trade Pattern Ideas - Dukascopy Bank
Thu, 04 Apr 2019 05:35:28 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Sell
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇗
⇒
⇗
The Pound Sterling has appreciated about 328 base points against the Japanese Yen. The currency pair reached near the upper boundary of a descending channel pattern during yesterday's trading session.
Currently, the exchange rate is trading near the upper band of the descending channel at 146.79 and could be set for a breakout.
If this breakout occurs, the currency exchange rate could aim for a swing high of 148.75 during the following trading sessions.
However, a resistance cluster formed by the combination of the weekly and the monthly pivot points at 147.69 could hinder such movement.
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