OctaFX | OctaFX Forex Broker
Open trading account
Back

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.

AUD/USD: Rejected at 100-DMA drops below hourly 100-MA

The Aussie’s nine day winning streak seems over now, as the AUD/USD pair is trading below its hourly 100-MA at 0.7285 after having rejected earlier today at its 100-DMA at 0.7364.
Read more Previous

Gold is back in green after rough ride in Europe

Gold prices had a rough European session despite weak China data and European stocks, but have managed to recover losses to trade in green in the early US session.
Read more Next
Start livechat