GBP/JPY - GBP/JPY Stucks in 100 and 200 daily SMAs - 01/17/2017 (GMT)

The GBP/JPY pair is moving lower after the rebound on the 148.40 resistance barrier and over a previous session, it opened with a gap to the downside. Currently, the sterling is developing within the 100 and 200 daily SMAs against the Japanese yen which both seem to be strong obstacles for the continuation of the tendency in either direction. The pair plummeted almost 7% since December 18th and if the price slips below the 100-SMA, it will move towards the 132.25 support barrier. Technical indicators are endorsing the bearish scenario as RSI is falling with the solid move over the last sessions while MACD entered the negative territory and it lies below its trigger line.