(141,10) The GBP/JPY is confirming further consolidation interior the inside day with 143.30 – 137,70 still the levels to follow in the coming hours. The cross is extending the corrective move up and while above the 200 hours line at 140,65 we could well see further strength suggesting a 142 overshooting. The indicators of the daily chart are still well negative while those of the s/t ones are still showing a mixed picture suggesting further consolidation. Only an hourly closing below the support line at 140,25 will resume the decline suggesting a possible retest of the lows with even a possible extension toward a s/t target at 133,46!! Only a move above 141,50 will postpone further weakness favouring a higher retracement!! We are still waiting for higher levels to sell again!!
Click here to read the full report: GBPJPY 03.06
Future Trend Research