(143,80) The GBP/JPY confirmed a strong closing last night suggesting further strength that could lead to a direct 145 overshooting. The indicators of the daily chart have now returned above the line already forming bearish divergences. The move up is also confirming a positive reversal suggesting a target at 145,53. The indicators of the s/t charts are positive but already well overbought. A daily closing tonight above 143,56 will confirm higher levels. Possible correction should find support at 143,35 before the 142,75 level, the previous top! We stay on the sideline but the European market has 130 pips gap up in an overbought market!! We are still short but wrong.
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Future Trend Research