The GBP/JPY confirmed also on Friday further consolidation interior the inside day with 122,75 – 120,80 still the levels to follow in the coming hours. Only a daily closing above 122,75 will confirm an extension of the move up with the 200 days line at 127,45 the attraction.
The indicators of the daily chart are just below the line while those of the s/t ones are mixed suggesting further consolidation. Only an hourly closing below 120,90 will support lower levels.
We remain on the sideline following the inside day.
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