(132,10) The GBP/JPY confirmed on Friday a positive closing failing to confirm the previous day’s negative day reversal. Overall the cross is still confirming further consolidation interior the inside day with 132,95 – 131,45 still the levels to follow in the coming hours. In the hourly chart we have now a potential complex S_H_S formation with the neck line at 131,70!! The indicators of the daily chart are still well positive but those of the s/t ones are all in negative territory this morning supporting further consolidation/ correction. While below the 200 hours line at 132,08 we have to expect further weakness a firm test of the neck line. Only an hourly closing below 131,50 will however confirm a deeper correction suggesting a return toward the 130 area!! We are still waiting for confirmations.
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Future Trend Research