Cracking technical targets in the process.

The GBPJPY is the biggest mover today with a decline of 1.11%.

Cracking technical targets in the process.

The pair is currently trading at session lows at 142.54. The high for the day was up at 144.226 (in the early hours of the Asian session).

Technically, the price high from Friday stalled against a topside trend line at the 144.352 area. Today, the pair fell below its

  • 38.2% retracement and 100 hour moving average at the 143.13 area,
  • an upward sloping trendline,
  • the 50% retracement level at 142.754, and is now
  • cracking below its 200 hour moving average at 142.609.

The next target comes in at 142.376 to 41 area which is the swing low from Friday's trade adn the 61.8% retracement of the move up from the December 23 low.