GBP/JPY: all Moving Averages broken

GBP/JPY: all Moving Averages broken

Information is not investment advice

The last 'Double Top' pattern led to the current decline, so all the Moving Averages have been broken. It's likely that the market is going to continue falling down in the short term towards the previously tested support at 143.83 - 143.71. If a pullback from these levels happens next, there'll be an opportunity to have an upward correction in the direction of the closest resistance at 144.83 - 145.01.

25-4-2019-GBP-JPY-H4.png

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To gain the ability to head higher, towards 1.3445, USD/CAD needs to overcome 1.3355 (61.8% Fibo of the May-July decline).  

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