The GBP/JPY broke the support of the inside day extending the decline toward 119,60 failing however to confirm yet the break by a daily closing. We still expect the downside to be limited.
The indicators of the daily chart are still well negative but those of the s/t ones are also still above the line this morning, at least for now. Possible therefore a new attempt on the upside.
We still prefer remaining on the sideline while waiting for a little lower levels to buy it.
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FUTURE TREND RESEARCH