FX_IDC:GBPJPY POUND STERLING / YEN
As discussed in a post here, GBP/JPY pair hourly chart is indicating the bears are having a good day out there.
- The adds credence to the view. The price divergence seen on the hourly chart has appeared at inverse head and shoulder neckline level noted on the .
- The cross also failed to sustain above daily 100-MA today and now trades around 160.50; slightly above 160.414 (23.6% of 188.807-151.644).
- The cross appears on track to test daily 5-MA level of 159.84.