(153,65) The GBP/JPY confirmed a nice rebound after the 152 undershooting but the closing was still very weak, below the low of the previous session. The indicators of the daily chart turned below the line suggesting further consolidation/ correction but those of the s/t ones are mixed this morning suggesting some consolidation. Only an hourly closing above 154,80 will already resume the move up; however in the hourly chart we have potential negative reversal suggesting further weakness toward a potential target at 151,51. The only thing we don’t like is the missing of divergences on the way down!! We stay on the sideline.
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