….and the 50% and a swing area
The GBPJPY is making a bullish run for it. Technically today, the price has squeezed above:
- A swing area at 135.48-73,
- The 50% retracement of the move down from the December 2019 high at 135.971, and now
- The 100 day MA at 136.14
All those moves are more bullish. Stay above and the bulls/buyers are in control. Move back below and the bullish move today, loses increasing amounts of bullishness.
Looking at the pip changes for the all the major JPY pairs, they are all on fires with big gains today. The GBPJPY is the biggest mover with a 193 pips gain on the day.