100 hour MA and trend line broken at 137.82.
The GBPJPY was not immune from the tumble in the pound following the Parliamentary vote.
For the pair, stops were triggered below its 100 hour MA and trend line at the 137.822 level (see red circles and blue line).
The day high just stalled at the 100 hour MA in the GBPJPY
Is the GBPJPY a buy?
Buyers can argue that the sellers had their shot(s) and failed..
There comes a point when the sellers give up and turn around (market oversold?. Yes). The sellers turned to buyers. The price has moved to a high of 137.465
Earlier fall below 100 hour MA failed
A battle is on in the GBPJPY.
The pair corrected in the early London session, falling below the 100 hour MA in the process. However, that break was shortlived and the price rebounced.
Buyers try to make a play in the AUDCAD
The AUDCAD is lower on the day, after the high for the day could not push above the high from yesterday, and sellers pushed the price lower.
GBP/USD moves towards a test of the 100-hour moving average again
The pair touches a high of 1.2688 on the session and is closing in on a test of the 100-hour MA (red line) @ 1.2691. Buyers managed to crack that level earlier this week after May delivered her WAB but failed to hold on to