Technical Analysis – GBPJPY hits 5½-month high; positive bias intact

GBPJPY reached a five-and-a-half-month high of 139.50 earlier today, continuing the buying interest that started on June 29. Also, the price remains above the 20- and 40-period simple moving averages (SMAs) and the MACD oscillator is strengthening its positive momentum above its trigger line. However, the RSI indicator is flattening slightly below the overbought zone. […]