GBP/JPY - Bulls are Pushing the Price Higher - Target Locked - 08/30/2017 (GMT)

The ‘ninja’ pair had an aggressive upward rally since yesterday and move up to 200-day SMA, which was our next target at 142.00 psychological level (see technical analysis here: http://bit.ly/2wDIRVz). The 50-day SMA on the weekly timeframe has been acting as a strong support obstacle for the bulls and is pushing the price to end the monthly session higher. However, this current month the GBP/JPY pair plummeted more than 2.4% but is trying to post a bullish week.

The next area to have in mind is the 143.20 – 144.00 resistance handle, which overlaps with the 50 and 100 SMAs. On the daily chart, the RSI indicator is strengthening its momentum and is moving to the upside and the MACD oscillator rose above its trigger line in the negative path.