The GBP/JPY formed a positive day reversal but only a daily closing tonight above 125,32 will confirm a s/t bottom suggesting a retest of the 127,50 area.
The indicators of the daily chart are still well positive but showing potential negative reversals close to the overbought area!! Those of the s/t ones are instead mixed this morning supporting further consolidation. An hourly closing above 125,50 will confirm a positive reversal in the hourly chart suggesting a new s/t target at 128,88!
We wait for confirmations and of course for a buying opportunity!
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http://www.easyforexnews.net/wp-content/uploads/2011/11/GBP-JPY-11.04.pdf
FUTURE TREND RESEARCH