The GBP/JPY confirmed further consolidation interior the inside day yesterday with 122,75 – 120,80 still the levels to follow in the coming hours. Only a daily closing above 122,75 will confirm an extension of the move up with the 200 days line at 127,64 the attraction.
The indicators of the daily chart have now turned again below the line and also those of the s/t ones are negative this morning suggesting a possible extension of the correction toward the 200 hours line at 121,20 if not even a little lower, move that we want to buy, especially in case of a 120,50 undershooting!!
We remain on the sideline.
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