GBPJPY is paring some of Friday’s gains as over the last hours it is moving below its intraday high around 150.00. The price reached a new two-week high and is creating a bullish correction after the rebound on the 147.00 psychological level. In the 4-hour chart, the technical indicators are pointing to a neutral to positive bias with the RSI just below the 70 level, while the MACD oscillator is flattening above its trigger line. In case of further losses, the price could challenge the immediate support of 149.30. A drop below this region should see the May 6 trough of 148.20 acting as a major support barrier. ... (full story)