(142,52)The GBP/JPY confirmed a negative closing missing by a few pips a weak one. A daily closing tonight below 142,18 will confirm a possible retest of the 140,00/139,50 area! The indicators of the daily chart are still well negative suggesting further downside risk but those of the s/t ones are mixed still suggesting further consolidation. However, in the faster hourly RSI we start seeing bullish divergences followed by potential negative reversal suggesting further possible weakness. While below 143,10 on an hourly closing we favour therefore further weakness for this cross suggesting a 140 undershooting!! We stay on the sideline and short!
Click here to read the full report: GBPJPY 01.29
Future Trend Research