Technical analysis of GBP/JPY for May 18, 2017

GBP/JPY is under pressure as the key resistance is at 144.90. The pair is rebounding and broke above its declining 20-period moving average. Nevertheless, 144.90 is playing a key resistance role, which should limit the upside potential. The descending 50-period moving average is also playing a resistance role and maintains the downside bias. Even though […]