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GBP/JPY 4H Chart: Decline likely to continue

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)BuySellSell
Aggregate⇒⇘⇘

[ANNOUNCE]The GBP/JPY currency pair has been depreciating in a descending channel pattern since the beginning of May. The exchange rate reached a six-month low during this week's trading sessions.[/ANNOUNCE]

As for the near future, it is likely that the British Pound will continue to edge lower against the Japanese Yen. The potential downside target will be near a support level formed by the weekly S1 at 135.72.

However, given that a breakout had occurred through the upper boundary of the descending channel pattern, bullish traders could push the currency exchange rate towards the 200-hour SMAs at 141.67 in the nearest future.

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