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Up 1.63% today.
The GBPJPY has been running higher today and it now is the biggest mover on the day. It is currently up 1.63%.
Technically, the price has raced higher on the daily chart (one of the biggest move in a while). In the process, the pair has moved back above a broken trend line at 144.90. The March 2018 swing low is around that area at 144.97. Those levels are risk now. The current price is trading at 145.40.
On the topside on daily, the 38.2% at 146.27 is the next target, followed by the 100 day MA at 146.655. The price moved above the 100 day MA in July, but stalled at the 200 day MA (green line). The 200 day MA lags behind and is up at 148.65.
Drilling to the 4-hour chart below, the pairs run broke above a trend line, 200 bar MA on the 4-hour and the 50% of the move down from the July high at 144.598. The next target off this chart comes in at 145.709.
Bulls in charge. Fast break to the upside. Biggest mover on the day. The pair is leaving risk levels in the rear view mirror on the run higher.
