GBP/JPY Technical Analysis

(156,40) The GBP/JPY confirmed a negative closing after a test of the 155 area while the weekly closing was negative forming even a negative week reversal. The indicators of the daily chart are still well positive as well as those of the weekly one where we have still overbought conditions and potential negative reversals. The indicators of the s/t ones are mixed this morning supporting some more consolidation/ correction. While below 156,75 on an hourly closing we expect a move lower suggesting a retest of the 155 area. We expect lower levels!!

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