© Dukascopy Bank SA
Today GBP/JPY experienced a significant bullish advance , which has already managed to breach the 200-day SMA at 126.27, and at the particular moment the currency pair is gradually heading towards the upper Bollinger band, which will probably stop the current movement upwards. In case it is broken, then the price might reach the weekly R2 at 128.17, which in turn is very likely to bring some bearish impetus. Moreover, RSI indicator still shows a neutral signal, and the overall indicator outlook remains neutral.
Traders' sentiment
Traders at SWFX market maintain mixed feelings regarding the GBP/JPY currency pair, as 50% of traders hold bullish positions and 50% of traders hold bearish positions. The situation with orders spots some uptrend expectations, since 69% of traders ordered to buy and only 31% ordered to sell the British Pound.
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