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13 Oct 2015
GBP/JPY Bulls are losing momentum
GBP/JPY sellers stood their ground and buyers retreated in recent sessions as MACD (26, 12, 9) has fallen off below its median line.
On a 4hr chart, this technical condition may be taken by many trend-following traders as a trigger to liquidate long positions.
The fact that the MACD hasn't been under zero for at least one week of trading, reinforces the argument that room for further GBP/JPY depreciation is there.
On a 4hr chart, this technical condition may be taken by many trend-following traders as a trigger to liquidate long positions.
The fact that the MACD hasn't been under zero for at least one week of trading, reinforces the argument that room for further GBP/JPY depreciation is there.