(140,90) 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 just extending a little the corrective move up; however while below 142,20 on a daily closing the scenery will remain negative suggesting a move lower! 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; attention however that in the hourly chart we have bearish divergences suggesting an imminent change of the tone. 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!! A move above 141,50 will postpone further weakness favouring a higher retracement!! We stay on the side-line waiting for stronger signals!!
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Future Trend Research