| Positions | Today | Yesterday | Change |
|---|---|---|---|
| Longs | 30% | 27% | 11.5% |
| Shorts | 70% | 73% | -4.9% |
| Indicator | 4H | 1D | 1W |
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Sell | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇗ |
The GBP/JPY currency pair bounced off the support level formed by the 50– hour simple moving average at 157.00 on Tuesday. As a result, the British Pound rose by 109 pips or 0.70% against the Japanese Yen.
The exchange rate is currently trading near the upper line of an ascending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards the psychological resistance level at 160.00 could be expected within this session.
However, if the channel pattern holds, the currency exchange rate might make a brief retracement during Wednesday's trading session.