Technical Analysis – GBPJPY dips back below 200-Day MA; outlook bearish
Posted on September 28, 2015 at 8:50 am GMTGBPJPY has turned negative again after reversing the rally that took it above the 200-day moving average. The September 17 high of 188.29 remains on the upper end of the current trading range it has established since the end of August. Prices have been trading around the 61.8% of the Fibonacci retracement level of the April-June upleg at 182.89 in the past three days. The nearest resistance is the 50% Fibonacci retracement level at 185.35, just above the 200-day moving [..]