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Forex technical analysis: GBPJPY falls from channel trend line

Discussion in 'Technical Analysis' started by ForexLive, Aug 31, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Spiked after breaking above 200 bar MA on 4-hour but found sellers against trend line resistance The GBPJPY moved above the 200 bar MA on the 4-hour chart for the first time since June 23rd (right before Brexit). I outlined this key level in the post yesterday (). That move above gave buyers a reason to buy and they took the pair higher in the Asian Pacific/London session. The price rise continued at a steady click until the price reached the topside of a channel at the 135.76 level. The high reached 131.757. The price held that line.

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