(154,40) The GBP/JPY confirmed on Friday a positive daily closing but the weekly one was negative. Today’s rally is suggesting a test of the May’s top at 156,80; a break above this level will support further strength. The indicators of the daily chart are now positive as well as those of the monthly chart; only the weekly indicators are still below the line. The indicators of the s/t charts are well positive but already showing overbought conditions suggesting a correction. We sold this cross at 154,37 with a starting stop at 155,10!
Read the full report: GBPJPY 09.02
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