GBP/JPY two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs29%27%7.4%
Shorts71%73%-3.0%
Indicator4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)NeutralSellBuy
SAR(0.02;0.2)BuySellBuy
Aggregate

Upside risks dominated the GBP/JPY currency pair on Friday. As a result, the Great British Pound surged by 110 pips or 0.74% against the Japanese Yen during Friday's trading session.

All things being equal, bulls could continue to pressure the exchange rate higher during the following trading. A breakout through a resistance line at 150.72 is likely to occur.

However, if the resistance level holds, bearish traders could target the 149.60 area during the following trading session.

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