GBP/JPY could edge higher

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Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs26%29%-14.0%
Shorts74%71%4.8%
Indicator4H1D1W
MACD(12;26;9)BuyBuyBuy
RSI(14)SellSellNeutral
Stochastic(5;3;3)NeutralSellNeutral
Alligator(13;8;5)BuyBuyNeutral
SAR(0.02;0.2)BuyBuySell
Aggregate⇗⇒⇒

[ANNOUNCE]On Tuesday, the British Pound surged by 90 pips or 0.60% against the Japanese Yen. The currency pair tested the resistance level at 154.75 during yesterday's trading session.[/ANNOUNCE]

Technical indicators suggest buying signals on the 4H and daily time-frame charts. Most likely, the exchange rate could continue to trend higher through the following trading session.

However, if the GBP/JPY currency exchange rate fails to break the resistance level at 154.75, sellers could target the 153.50 support line within this session.

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