GBPJPY Setup
The pair’s sustained trading below 100-day SMA seems to drag it towards the early-May top surrounding 133.20. However, an ascending trend line from March 18, at 131.60 could challenge the bears afterward. Alternatively, the pair’s upside past-100-day SMA level of 135.67 will have to cross 200-day SMA, at 137.63 now, before challenging the monthly top near 139.75.
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