(139,70) The GBP/JPY confirmed a very weak closing well below the low of the previous sessions but also well below the support of the inside day at 140,70. On top of that it broke also the important support line suggesting further downside risk toward 137,50!! The indicators of the daily chart are still well negative and also those of the s/t ones are below the line supporting further weakness. The drop started already forming bullish divergences confirming a negative tone suggesting further pressure. Possible rebounds should find resistance at 141,50, the neck line of the suggested S_H_S formation targeting 136,65!! We stay short!
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Future Trend Research