GBPJPY is approaching again the 40-simple moving average (SMA) in the 4-hour chart after the strong rebound on the eight-month low of 143.20 that was reached on May 29. Moreover, the price successfully surpassed the 20-SMA and remains in positive territory. From the technical point of view, the positive bias in the near term is further supported by the deterioration in the RSI indicator. The index is sloping slightly to the upside near the 50 level, while the MACD oscillator is edging higher above its trigger line but below the zero line. If prices continue to head higher, resistance should come from the 145.30 ... (full story)