HomeContributorsTechnical AnalysisGBP/JPY 4H Chart: Remains Stable

GBP/JPY 4H Chart: Remains Stable

The British Pound has appreciated about 2.25% in value against the Japanese Yen since August 12. The currency pair tested a resistance level formed by the 100– period simple moving average at 129.15.

Most likely, the GBP/JPY exchange rate could continue to inches higher during the following trading sessions. Bullish traders might aim for the 200-hour SMA at 132.04 next week.

Furthermore, technical indicators suggest that the currency exchange rate would trade north until the end of this week’s trading sessions.

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This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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