The GBP/JPY is extending the correction below the lows of the previous few sessions suggesting a possible decline toward the 200 hours line at 123,06. This decline should be corrective and a buying opportunity especially close to the support line at 122,15!!
The indicators of the daily chart are still well positive but those of the s/t ones turned all below the line following the decline. In the hourly chart we have already potential positive reversals; however we suggest waiting for a possible extension of the drop.
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FUTURE TREND RESEARCH