GBP/JPY intraday: as long as 138.95 is support look for 140.59
Our pivot point is at 138.95.
Comment:
the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 MA (139.47) but above its 50 MA (139.12).
Alternative scenario:
the downside breakout of 138.95 would call for 138.34 and 137.97.
Our preference:
as long as 138.95 is support look for 140.59.
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