The GBP/JPY confirmed a negative closing but it managed at least to recover somewhat from its low and the closing was however above the support line!! While below 124,10 we could still see an extension of the decline toward the 122,50 area.
The indicators of the daily chart are still positive while those of the s/t ones are mixed suggesting further consolidation/ correction.
Only an hourly closing above 124,10 will postpone further weakness favouring a rally toward 125!
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FUTURE TREND RESEARCH