Consolidates underneath ceiling and above the 100 hour MA
The GBPJPY has consolidated in an up and down vary in buying and selling at present.
The low at present stalled close to the 100 hour MA and is bouncing modestly. The final four checks of the MA line (see blue line) has stalled the falls.
Above the 200 hour MA (inexperienced line) has seen modest shopping for on strikes above and modest promoting on strikes beneath as merchants work out the following transfer.
Additional to the upside, is a ceiling at 139.42-49 space. The ceiling was a ground till January 2nd. The excessive yesterday stalled towards the extent and wandered decrease.
For merchants, search for a break of the 100 hour MA for a extra bearish run. If it holds, and the worth can keep above the 200 hour MA, the ceiling at 139.422 might be eyed for a possible break and run larger.
Three days of consolidation. In some unspecified time in the future merchants will leap on the upside or draw back. Search for the break and run.