GBP/JPY Morning Technical Report 29/8/2014
ecPulse
2014-07-29 06:56AM UTC
Despite the negative divergence discussed in the weekly report, but the index has moved to the upside yesterday, recovering from 1960.00 regions as seen on the provided daily graph. Coming again above SMA20 warns of extending gains but there is a tough ceiling at 1986.00-1987.00. In the interim, RSI14 couldn’t take out the value of 50.00 and thus, we remain neutral over intraday basis awaiting for an actionable setup to present itself in order to pinpoint the next big technical move.
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