Technical Analysis – GBPJPY in consolidation phase near a five-month high

GBPJPY is stuck between the 200-day simple moving average (SMA) and the 140.70 resistance, which is also the 61.8% Fibonacci of the downleg from 149.47 to 126.53. Downside pressures seem to be strengthening as the RSI is heading down to meet its 50 neutral mark and the MACD continues to slip under its red signal line in the positive […]