(142,73) The GBP/JPY confirmed a nice rebound after the drop toward 139,25 that failed yet to abort the suggested S_H_S formation. Only a move above 144,30 will be able to resume the move up!! The indicators of the daily chart are still well negative but those of the s/t ones turned all above the line following the rebound. In the hourly chart we have however overbought conditions and potential negative reversals suggesting a limited upside potential. Nevertheless we could well see an extension toward 143,40 where we find a s/t resistance line. This extension is a selling opportunity!! We stay on the sideline!
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Future Trend Research