(144,10) The GBP/JPY failed to confirm Friday’s negative day reversal, however by only a few pips. The closing was however still negative. The indicators of the daily chart are still below the line while those of the s/t ones show a mixed picture suggesting further consolidation. While above the 200 hours line at 143,53 we expect further upside potential. However yesterday’s drop below 143 started again forming bullish divergences suggesting a change of the tone. Nevertheless we suggest waiting for further confirmations before taking a new position. In the hourly chart we have a potential S_H_S formation with the potential neck line at 142,30.
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Future Trend Research