GBP/JPY -56

with the another negative news for GBP (CBI realized sales 36 vs. 49 previous), we can assume further decline of GBP, despite positive prelimianry GDP suprise yesterday (0.8% vs. 1.2 previous). BoJ press conference did not do much for the JPY so we can assume again that JPY strength is in days to come, at least towards US elections & FED meeting. Price actions seems trapped between two simple moving averages (50 & 100), so we will be careful on bounce of those limits. Slow Stochastic are in line with our projections. Stops are placed above most recent high 128.40, and target is at 127.70.