Runs lower on technical breaks
The GBPJPY has just moved below its 200 hour MA and 38.2% retracement at 146.93 area (green line). That break continues the selling started earlier in the day after the re-break of the 100 hour MA, and a swing area at the 147.369-463 area (see yellow area in the chart below). The price is trading at the lowest level since March 13th. The next target on more selling comes in at the 50% retracement at 146.291.
The risk for sellers now is the broken 200 hour MA and the 38.2%. A move below the 50% should continue the bearish run.
