Moving away from 200 hour MA. Trades at session highs.
The GBPJPY is one of the biggest movers of the day. The price is up about 0.62% on the day and just made new session highs.
The price action today, got an earlier kick on the back of trading above a trend line on a pennant formation. The price more recently moved above the 200 hour MA at 149.913 and is moving away. Earlier attempts today have stalled. That MA is now risk for longs. Stay above is more bullish.
The next key target on the hourly chart comes in at 150.80. The 38.2% of the move down from the Feb high comes in at 151.254. Both are upside targets if the 200 hour MA continues to hold support.
