(142,70)The GBP/JPY formed yesterday a negative outside day reversal with 144,95 – 142,75 the levels to follow in the coming hours. A daily closing below 142,75 will confirm a s/t top supporting a deeper correction. The indicators of the daily chart are already turning below the line while those of the s/t ones are already in negative territory supporting lower levels. The hourly closing below 142,70 at 8.00 CET confirmed also a S_H_S formation suggesting a drop toward the 200 hours line, now found at 141,86. However the downside potential is far greater suggesting even a 140 undershooting!! We are still short but probably now less wrong.
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Future Trend Research