Forex technical analysis: GBPJPY stays below 100 day MA
Correction off low keeps below the key MA
As the USDJPY trades to new lows, the pressure has remained on the GBPJPY.
Technically, the price tumbled below its 50% retracement of the move up from the April low at 141.84. Yesterday, that level was tested and held. The fall below that 50% then targeted the 100 day MA at 141.347. That level was also broken, and it remains a risk defining level for shorts. Stay below and the sellers remain in control.