GBP/JPY 4H Chart: Pound gains ground

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The highly demanded GBP/JPY currency pair has continued to surge. However, it has not occurred in the previously drawn long term channel.  

Instead there have been various non-forecasted fluctuations. Although, such events are in general expected from this exchange rate. Due to that reason the Dukascopy research team has adjusted also the long term patterns. 

In regards to the near future, during the review a junior channel up pattern was mapped. It is highly likely that this channel together with other support levels will force the rate through the monthly R1 and push higher.

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