you sure about that, pal?
GBPJPY neutral in short-term; potential for downside move
GBPJPY continues to trade in a narrow range and is expected to maintain a consolidation phase around the 151 level in the near-term. The uptrend that took place from the 140 area ran out of steam at 152.85 on September 21. Trend indicators are neutral and showing a lack of clear direction on the 4-hour chart. RSI and MACD are flat, while the 20 and 50-period moving averages are horizontal. GBPJPY is expected to trade sideways between 150 and 152.85 in the near term. A rise above the September 27 high of 151.60 would turn the focus to 152.85. Clearing this top would see a resumption of the medium-term uptrend with ... (full story)