GBPJPY freezes at 50.0% Fibonacci; momentum ceases

From xm.com

GBPJPY has come to a standstill at 134.47, that being the 50.0% Fibonacci retracement of the down leg from 144.94 to 124.00. The 200-day simple moving average (SMA) sponsors a broader neutral picture with its mostly horizontal tone while the recent bullish crossover of the 100-day SMA by the ascending 50-day one, may provide the necessary boost to return upside sentiment. Although directional momentum has disappeared, the short-term oscillators look skewed to the upside. The MACD is marginally above its red trigger line and neutral mark, while the RSI hovers slightly above the 50 threshold. Turning to the stochastic ... (full story)