© Dukascopy Bank SA
Today the GBP/JPY currency couple experienced a slight bullish correction, and at the particular moment the price faces the 20-day SMA at 126.15, which is likely to stop the prevailing rally from advancing further. However, if it is breached, then the price might advance until the weekly PP at 127.28, which will probably bring some bearish momentum. Nevertheless, the overall indicator outlook now is neutral, therefore no significant tendency reversals should be expected in the nearest future.
Traders' sentiment
Traders at SWFX market are neutral regarding the GBP/JPY currency couple, as 53% of traders hold bullish positions and 47% of traders hold bearish positions. The situation with orders, however, shows some bullish trend expectations, since 70% of traders ordered to buy and 30% ordered to sell the British Pound.
© Dukascopy Bank SA