GBPJPY is currently below the 50-, 100- and 20-period simple moving averages (SMAs), having been bound within a trading range of 141.47 to 138.85 for almost a month. It is evident that directional momentum has evaporated, something also supported by the above mentioned SMAs which have joined and mostly adopted a horizontal bearing. The technical indicators are showing mostly a position of neutrality as they are trading around their neutral marks. Currently the MACD is in the negative zone, slightly above its red trigger line and only just below zero, while the RSI is barely below its neutral point, showing a marginal ... (full story)