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GBPJPY retreats from 1 ½-month highs; 20-day MA strong support
GBPJPY formed a fresh top at the 1 ½-year high of 148.88 today in the four-hour chart before reversing lower to stop at the 20-period moving average which for once again stood a wall to bearish actions, holding the upward bias in play. The RSI and the MACD have both weakened, with the former dropping towards its neutral threshold of 50 and the latter easing below its red signal line. Still, upside risks have not been faded out yet as both indicators continue to fluctuate in bullish territory; the RSI above 50 and the MACD above zero. Should the price shift above the 148.00 round level, traders could look for ... (full story)