Support stalls the fall
The GBPJPY moved down along with the other JPY crosses today, but has found a cluster of support defined by some swing lows from February 15, the 38.2% of the move up from the Feb 12 low and the underside of a broken trend line. All converged right around the 146.38 level. The price decline stalled. There is a modest bounce.
With the cluster of support at the same area, it will take a move below to tilt the bias more to the downside. Failure to do that, and the move from the high is just a correction.
PS the 100 hour MA (blue line) will also need to be broken at 146.128, to turn the bias even more to the downside.
