GBP/JPY could edge up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs25%27%-8.8%
Shorts75%73%2.9%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)BuyBuyBuy
SAR(0.02;0.2)SellBuySell
Aggregate

The British Pound edged lower by 114 pips or 0.75% against the Japanese Yen on Friday. The currency pair breached the 50– hour simple moving average at 151.57 during Friday's trading session.

The exchange rate rebounded from the lower line of an ascending channel pattern at 150.97 during the Asian session on Monday. Bullish traders are likely to pressure the GBP/JPY pair higher today.

However, the 50– hour SMA at 151.57 could provide resistance for the currency exchange rate within this session.

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