GBP/JPY 4H Chart: Set for breakout - Trade Pattern Ideas - Dukascopy Bank
Thu, 18 Apr 2019 05:33:06 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
Neutral
Neutral
Alligator(13;8;5)
Neutral
Buy
Buy
SAR(0.02;0.2)
Sell
Buy
Buy
Aggregate
⇒
⇗
⇗
The British Pound has appreciated about 9.79% in value against the Japanese Yen since the beginning of January. This movement was guided in an ascending channel pattern.
Currently, the currency pair is testing a support level formed by the lower boundary of a four-month ascending channel and the 50-hour simple moving average at 145.79.
If the GBP/JPY passes the support level, a decline towards a swing low of 144.00 could be expected.
However, if the given channel holds, it is likely that an upside reversal could occur in the nearest future.
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