The GBPJPY moves back below the 100 hour MA

The GBPJPY moved above the 100 hour MA ( at 120.85) for an hour or so, but has just moved back below the level (level is now resistance). The failure on the move above that MA and also the 38.2% retracement is a bit of a disappointment for the bulls. The close from 50% of the days range at 120.529, and the close from yesterday at the 120.48 will be the next targets for the pair.