The pound Sterling strengthens against Japanese Yen
- The market has been trading in a bullisjh channel since the beginning of January, the short-term trend is therefore bullish.
- Lately, prices have attempted twice to clear a significant resistance at 188.65, without success.
These failures led the market to the lower bound of its bullish channel, just above a support over 187.32.
The DMI indicator displays a lack of directionality, which is usual in a very short-term range situation, but the buying pressure remains in place.
The RSI still shows no tbreak-out to come, currently moving just above 50%
- The chartist situation and the signals sent by technical indicators allow us to anticipate a bullish continuation, with 191.75 as a final short-term target.
- Lately, prices have attempted twice to clear a significant resistance at 188.65, without success.
These failures led the market to the lower bound of its bullish channel, just above a support over 187.32.
The DMI indicator displays a lack of directionality, which is usual in a very short-term range situation, but the buying pressure remains in place.
The RSI still shows no tbreak-out to come, currently moving just above 50%
- The chartist situation and the signals sent by technical indicators allow us to anticipate a bullish continuation, with 191.75 as a final short-term target.
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