-
GBPJPY stays in bear mode after slump
video GBPJPY slumped suddenly to 10-week low of 178.00 on Tuesday in what looked to be a currency intervention from the Bank of Japan. The resistance-turned-support trendline from April 2022 halted the bearish action and lifted the price back to the 179.90 constraining area, but downside risks have not evaporated yet. The RSI remains negatively charged comfortably below its 50 neutral mark, while the stochastic oscillator has resumed its negative momentum. Meanwhile, the decline in the MACD has picked up pace below the red signal line, suggesting downside pressures may dominate in the short-term. Should sellers ... (full story)