(159,24) The GBP/JPY confirmed a strong closing yesterday suggesting a direct 160 overshooting where it is however finding good resistance for now. The indicators of the daily chart are of course still well positive while those of the s/t ones turned mixed this morning suggesting some consolidation/ correction. The move up formed fresh bearish divergences even in the 4h chart supporting a positive tone. In the s/t only an hourly closing below 159,00 will postpone the move up favouring a deeper correction with the 200 hours line, now at 157,87, the possible attraction. We stay on the side-line
Read the full report: GBPJPY 09.20
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