(142,55) The GBP/JPY confirmed a negative closing on Friday forming even a negative day reversal. Only a daily closing tonight below 141,55 will however confirm lower levels suggesting a 140 undershooting. This cross confirmed last week a S_H_S formation with the neck line at 144,10, now resistance. The possible target is 137,57, scenery that only a return above 146,00 will be able to abort!! The indicators of the daily chart are still well negative but still not yet those of the weekly on. The indicators of the s/t charts are in positive territory this morning supporting some consolidation/ correction. While above 141,50 on an hourly closing we could see a test of the 200 hours line at 143,90, even a little higher, move that we expect to be corrective and a selling opportunity for a drop below 140!!
Click here to read the full report: GBPJPY 02.25
Future Trend Research