HomeContributorsTechnical AnalysisGBP/JPY Could Continue To Trade Sideways

GBP/JPY Could Continue To Trade Sideways

The GBP/JPY currency pair has continued to trade sideways since April 8. The British Pound surged by 72 pips or 0.48% against the Japanese Yen during Wednesday’s trading session.

Everything being equal, the exchange rate could continue to range between the 150.70/149.50 levels during the following trading session.

However, technical indicators suggest selling signals on the 4H time-frame chart. Most likely, bearish traders might pressure the currency exchange rate lower during the following trading session.

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Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
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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