(140,20) The GBP/JPY confirmed a weak closing last night below the low of the past few sessions as well as below the support of the inside day at 140,00, suggesting further weakness in the coming hours toward the support line at 138,50. The indicators of the daily chart have now turned below the line while those of the s/t ones are mixed suggesting further consolidation/ correction. Also for this cross the decline started forming bullish divergences in the faster RSI. While below the 200 hours line at 140,70 we have therefore to expect further downside risk toward the support line, now found at 138,50. We keep staying short.
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Future Trend Research