The GBP/JPY confirmed a session of consolidation forming a new inside day with 121,65 – 119,90 the levels to follow in the coming hours. A break of the support confirmed by a daily closing will cause further weakness suggesting even a retest of the lows below 117!
The indicators of the daily chart are still well negative but those of the s/t ones are above the line this morning, at least for now. Possible therefore a new attempt on the upside.
We still prefer remaining on the sideline while following the inside day.
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