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GBPJPY tests underside of broken trend line and 200 hour MA


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Lows stall near Tuesday’s lows

The GBPJPY is up and testing the underside of a broken trend line and the broken 200 hour MA. Those levels come in at 144.89-93.

The price for the GBPJPY has been up and down over the last 10 or so trading days.  The high yesterday did trade above the high from Monday and the 100 day MA (at 145.63) but fell short of the swing high from last week at 145.94. The move back below the 100 day MA tipped the bias back lower and the move cracked the 100 hour MA and 200 hour MA on the way to the day’s lows.  Those lows tested the Tuesday low.
A move back above the 200 hour MA will have the traders looking back toward the 100 hour MA at 145.15. A move above that level tilts the bias more to the bullish side once again.  
PS. the GBPUSD is testing its 100 hour MA at 1.27925. 

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