The GBPJPY has been trending higer since mid-June. That move to the topside has been using the 100 and 200 hour MAs since mid-June as the roadmap or guiding light. When there were some dips below the 100 hour MA, either the 200 hour MA stalled the fall, or the break of the 100 hour MA was quickly reversed. What we learned is that traders used those MAs to help define the bias/direction, and that bias has been to the upside. Anyone who has tried to sell because the price had gone too far, too fast, are likely underwater. Remember, trends are fast, directional and tend to go farther than what traders think. The GBPJPY has been trending. . Having said that, the market has also been knock
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