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The GBP/JPY currency couple experiences a second consequent bearish reaction, and now the price confronts the 200-day SMA at 126.46, which will probably change the direction of the prevailing tendency, however, in case it is breached, then the price might reach the weekly PP at 125.98, which in turn might stop the movement downwards. Additionally, RSI indicator remains neutral, although the overall indicator outlook is bullish, therefore soon a trend reversal could be expected.
Traders' sentiment
Traders at SWFX market are neutral regarding the GBP/JPY currency pair, since 47% of traders hold bullish positions and 53% of traders hold bearish positions. The situation with orders, however, shows slight bullish trend expectations, as almost 63% of traders ordered to buy and only 37% ordered to sell the British Pound.
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