The GBP/JPY confirmed a small extension of the decline finding however good support in the 120,80 area. Still possible a further extension toward the 120 area where we expect however strong support!!
The indicators of the daily chart are still well negative as well as those of the 4h one where we have even oversold conditions. The indicators of the hourly chart turned instead already above the line supporting a correction with the 200 hours line at 123,49 the possible attraction!!
Possible rebounds should however find resistance already at 121,70 before the 122,50 area.
For now we prefer remaining on the sideline waiting for lower levels but also for stronger signals!!
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