GBP/JPY hints at dip buying

The hourly 50-period SMA broke through the slower 200-period SMA, adding credence to the recent bullish GBP/JPY profile.

If GBP/JPY spot falls closer to the level where the moving averages crossed, then buyers might see it as an opportunity to reenter. Furthermore, a convincing break through the 50 SMA signals a neutral tone, shifting negative below the 200 SMA.