GBP/JPY Breaks Above 100 Hour Moving Average

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GBP/JPY Breaks Above 100 Hour Moving Average

By Greg Michalowski on June 24, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

GBP/JPY has broken above the 100 hr. m/a of 157.09. Note that there are two levels of resistence above , the 61.8 % retracement level of 157.42 based on the high of 159.60 back on June 19th. Also 200 hr. m/a is not far off at 157.56. A break above the 200 hr. could see a further move to the upside.

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