(140,35) The GBP/JPY confirmed on Friday another session of consolidation remaining interior the inside day with 143.30 – 137,70 still the levels to follow in the coming hours. The weekly closing was again weak below the low of the previous week. The indicators of the daily chart are still well negative but those of the weekly one remain above the line. The indicators of the s/t charts are mixed suggesting further consolidation/ correction. An hourly closing below 139,00 will resume the decline suggesting a possible s/t target at 133,46!! Only a move above the 200 hours line at 140,93 will postpone further weakness favouring a higher retracement!! We are still waiting for higher levels to sell again!!
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