| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Sell | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The Pound began depreciating against the Japanese Yen following a breakout of a one-year channel up mid-May. Subsequently, a retracement from the breached channel was formed which stranded the rate in a ranging motion between the monthly PP and the breached channel line.
Meanwhile, it should also be noted that the pair has formed a junior pattern and has been trading near its upper boundary during the last week.
It seems that the rate's movement should be guided by bulls, thus allowing the pair to breach this junior pattern, likewise reinforced by the 200– and 55-period (4H) SMAs, and appreciate towards the 50.00% Fibonacci retracement at 150.00 this week. Further upside potential is apparent until the monthly R2 at 154.65.
In the meantime, some downside move might still occur during the following session or two if the monthly PP at 140.20 is breached.