GBPJPY falls to rising 100 hour MA and stalls.  Key level to eye.

GBPJPY falls to rising 100 hour MA and stalls. Key level to eye.

38.2% is near the 100 hour MA too

The GBPJPY fell to a new session low over the last hour or so. 

The fall picked up some steam after the high today, stalled at the high from yesterday. The high  from yesterday, stalled just ahead of the high from the day before (Friday).   

Overall, tehere were a total of 4 swing highs in the 153.746-153.855 area before sellers pushed harder to the downside. That area is now a key swing ceiling that traders may lean against.

The fall lower has stalled right near the 100 hour MA and the 38.2% of the last move higher at 152.81.  The swing low from yesterday at 152.63 will be another target as is the 50% at 152.502.  

For now with the 100 hour MA/38.2% in the way, the buyers and sellers will battle it out at the level.  Staying above, keeps the bulls more in control. Yes, the ceiling at 1.53746-85 will be tough, but the sellers are not wining the war against the buyers if it cannot get below the 100 hour MA/38.2% retracement.

If broken, the sellers start to win a little more.  The other close targets will be eyed for confirmation and if broken, the 200 hour MA at 151.917 (and rising) will be eyed.

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