GBP/JPY bears could prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs29%28%2.8%
Shorts71%72%-1.1%
Indicator4H1D1W
MACD(12;26;9)SellBuyBuy
RSI(14)NeutralNeutralSell
Stochastic(5;3;3)BuyNeutralSell
Alligator(13;8;5)SellBuyBuy
SAR(0.02;0.2)SellSellBuy
Aggregate⇘⇒⇒

[ANNOUNCE]The British Pound declined by 63 pips or 0.40% against the Japanese Yen on Monday.[/ANNOUNCE] The currency pair tested the weekly support level at 154.55 during yesterday's trading session.

As for the near future, the exchange rate could continue to edge lower in a descending channel pattern. Bearish traders might target the weekly S2 at 154.07 within this session.

However, the lower boundary of the channel pattern could provide support for the GBP/JPY currency exchange rate during the following trading session.

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