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Forex technical analysis: GBPJPY showing some cracks from stocks

Discussion in 'Technical Analysis' started by ForexLive, Sep 9, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Below 100 and 200 hour MAs The GBPJPY moved above the 100 and 200 hour MAs earlier in the day, but with stocks weak today and currently down over 2%, there has been some selling on the risk that there may be some contagion concern into the Asian stock market session on Monday. As a result, the buyers of the GBPJPY (sellers of JPY) have turned into sellers (buyers of JPY) and the price of the GBPJPY has moved back below both the 100 and 200 hour MAs

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