GUPPY a Go Go this week as it breaks a 42 Day downtrend
GBPJPY like all the Sterling crosses has had a Brexit induced week.
- Monday and the 139.00 level was breached,
Tuesday the Daily candle broke above the 20-day Moving Average fro the first time since November 15 breaking a 42 day, 534 pip downtrend which was nice if you were trading the Moving Average rule.
Wednesday we breached 140.00 and settled a t a 13 day high.
Yesterday Thursday we closed right on the 50-day Moving average and a smidgen below 142.00 having breached and broken the H4 200-period moving average at 141.00
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Comment:
Guppy Remains a go go - 143.50 -145.00 beckons - As the extension of Article 50 from March 29 gains traction and the chances of the UK leaving the EU with NO Deal on March 29 (or any later date) falls.