Technical Analysis – GBPJPY pulls back after tumble below rising trend line
Posted on September 25, 2020 at 6:50 am GMTGBPJPY is continuing the rebound off the 132.95 support level but with slower momentum, reaching the red Tenkan-sen line at 134.72. The very short-term bias looks positive as the stochastic keeps gaining ground above its oversold zone, creating a bullish crossover within its %K and %D lines, while the RSI is flattening near the 30 level. The 100-day simple moving average (SMA) currently at 135.72 could be a trigger point for steeper bullish actions. If the pair manages to break the lower [..]