(146,35) The GBP/JPY confirmed on Friday a negative closing but it failed to confirm the previous’ day’s negative day reversal!! The indicators of the daily chart are however still well below the line for now as well as those of the s/t ones supporting further downside risk. In the s/t charts we have still a S_H_S formation with the neck line now at 145,05; an hourly closing below this line will support further weakness suggesting a 143 undershooting. We stay on the sideline still waiting for a decent extension of the correction!!
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