theforexportal
Long

Significant move ahead for GBPJPY?

FX:GBPJPY   British Pound / Japanese Yen
For some time the price of GBPJPY has hugged the 200 sma on the DTF. Yesterday saw another touch of the 200 and the price immediately headed north though price declined throughout the day. As long as this pair remain above the 200 we should see a move higher. Adding to this BULLISH analysis is the RSI which has turned north from lower levels.
I'm watching the TDI on the DTF as this has been squeezed for several weeks now and if we see the RSI cross over the signal line as it appears poised to do - this could also be a BULLISH sign.
I've gone long from 138.27 with a reduced lot size to accommodate a long STOP at 137.00
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