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GBP/JPY sticking to tight trading ranges

By : Mex Group

GBP/JPY sticking to tight trading ranges

16 September 2016, 07:01

The GBP/JPY hourly chart is not very telling: the pair lacks price direction and also volatility.

Notice the 50-SMA has slipped between the 200- and the 800-period SMAs, denoting an absence of a strong trend. The ADX tracking below 30 at the moment signals the same sideways condition.

The prospect for the building of triangles, rectangles, and pennants looks to be quite realistic. Traders may also opt to capitalize on divergences between price and oscillators.

GBP/JPY 0001-01-01T00:00:00
0/0 (0%)
H0 L0

S3S2S1R1R2R3
134.78866577148 134.89433288574 135.02366638183 135.25866699218 135.36433410644 135.49366760253

Trend IndexOB/OS Index
Bearish Neutral