GBPJPY has been in a trading range since early January without being able to indicate a clear direction. Moreover, the pair has recently crossed below its 50-period simple moving average (SMA), indicating that negative forces might be gaining ground. Short-term momentum indicators are reflecting a mixed picture as the RSI is located slightly below its 50 neutral mark. However, the MACD is found above its red signal line despite being in negative territory, which indicates that the negative momentum might be fading. Should the bulls seize control, initial resistance might be found at the 156.06 level before buyers eye ... (full story)