GBP/JPY 4H Chart: Likely to aim for 200-hour SMA - Trade Pattern Ideas - Dukascopy Bank
Thu, 13 Jun 2019 05:41:21 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Sell
Sell
RSI(14)
Neutral
Buy
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Buy
Alligator(13;8;5)
Buy
Sell
Sell
SAR(0.02;0.2)
Sell
Buy
Sell
Aggregate
⇒
⇒
⇘
The British Pound has been trading sideways against the Japanese Yen during the past week. However, a breakout occurred through the upper boundary of a descending channel pattern on June 6.
Currently, the exchange rate is stranded between a resistance level formed by the 100-hour SMA at 138.14 and a support line set by the 50-hour simple moving average at 137.55.
Everything being equal, it is likely that the GBP/JPY currency exchange rate will aim for the 200-hour SMA at 140.59 during the following trading sessions.
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