The GBP/JPY confirmed a strong closing above the top of the previous session suggesting further upside potential.
The indicators of the daily chart are however still below the line but those of the s/t ones turned all positive supporting further strength. The move up failed yet to form bearish divergences but it is showing a potential negative reversal situation. Possible therefore a correction with the 200 hours line at 120,53 the attraction.
Despite the missing divergences, the decline could be corrective and a buying opportunity for a break above the resistance line at 121,60.
We suggest waiting for further confirmations but overall expect further strength for this cross!!
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FUTURE TREND RESEARCH