GBP/JPY bounces off support

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs27%28%-1.5%
Shorts73%72%0.6%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellNeutralBuy
SAR(0.02;0.2)SellSellBuy
Aggregate

The Great British Pound declined by 92 pips or 0.61% against the Japanese Yen on Tuesday. The currency pair breached the 50– hour simple moving average during yesterday's trading session.

The exchange rate bounced off a support level at 149.65 during the Asian session on Wednesday. Most likely, the GBP/JPY could target the 150.72 level during the following trading session.

However, the 50– hour SMA at 150.21 could provide resistance for the currency exchange rate in the shorter term.

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