GBP/JPY 4H Chart: Tests 200-period SMA - Trade Pattern Ideas - Dukascopy Bank
Thu, 03 Oct 2019 06:25:07 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Sell
Buy
Sell
RSI(14)
Buy
Neutral
Neutral
Stochastic(5;3;3)
Buy
Buy
Neutral
Alligator(13;8;5)
Sell
Neutral
Sell
SAR(0.02;0.2)
Sell
Sell
Buy
Aggregate
⇒
⇒
⇒
The British Pound has been depreciating against the Japanese Yen within an ascending channel pattern since September 20.
The GBP/JPY exchange rate tested the lower boundary of the channel pattern at 131.72 during the morning hours of Thursday's trading session.
From a theoretical perspective, the currency pair will most likely break the descending channel pattern in the nearest future, and the rate might target the monthly S3 at the 129.49 regions.
However, the currency exchange rate has to pass the 200– hour simple moving average at 131.72 before such movement could occur.
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