(149,40) The GBP/JPY failed as well to confirm a weak closing missing therefore also to confirm the suggested S_H_S formation with the neck line today at 148,50. The indicators of the daily chart are still well negative while those of the s/t ones show a mixed picture this morning supporting some further consolidation. Bullish divergences formed on the way down confirm however still a negative tone. In the hourly chart we have already a negative reversal suggesting a s/t target at 144,47!! Only an hourly closing above 150,60 will postpone further weakness favouring a retest of the 200 hours line, now found at 151,59! We wait for confirmations!!
Read the full report: GBPJPY 06.14
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