Upside vulnerability in GBP/JPY

From an hourly perspective, the GBP/JPY has reached its lowest momentum reading of the last 20 days of trading.

Moreover, the recent plummeting GBP/JPY price action has been highlighted by an above-average reading in the MACD histogram.

While these momentum extremes could migrate to higher time frames, the latest hourly MACD print shows dissipation of speed, thus communicating risks of a immediate upside vulnerability.