GBP/JPY: 34 Moving Average acted as resistance

GBP/JPY: 34 Moving Average acted as resistance

Information is not investment advice

The 34 Moving Average has acted as resistance, so there's a bearish 'Thorn' pattern, which pushed the market lower. Also, we've got a bearish 'Flag', so the pair is likely going to test the nearest support at 137.34 - 136.43. If a pullback from this area happens next, bulls will probably try to reach the closest resistance at 138.13 - 139.42.

29-5-2019-GBP-JPY-H4.png

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