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30 Jul 2015
GBP/JPY hints at dip buying
The hourly 50-period SMA broke through the slower 200-period SMA, adding credence to the recent bullish GBP/JPY profile.
If GBP/JPY spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.
If GBP/JPY spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.