The hourly ADX(14) has just crossed above 50, emerging from below the 30 levels where it has been seen during the previous market session.
This is a less frequent technical set-up which suggests the GBP/JPY pair should be on its way to achieve further lows the days ahead.
Caution is advised on a possible overshoot threat to the falling 200-SMA, now printing above the recent close.
|133.37901306152 ||133.51000976562 ||133.75300598144 ||134.12699890136 ||134.25799560546 ||134.50099182128 |
|Trend Index||OB/OS Index|
| Bearish || Oversold |