| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The British Pound has surged by 8.14% in value against the Japanese Yen since the middle of March. The currency pair breached the 50– and 100– period SMAs during this period.
The exchange rate is currently trading near the upper border of a descending channel pattern and could be set for a breakout.
If the breakout occurs, a surge towards a resistance cluster formed by the weekly R1 and the monthly R2 at 140.40 could be expected during the following trading sessions.
However, if the descending channel holds, the currency exchange rate will most likely continue to trade in the channel pattern in the shorter term.