SM sub indexes are all softer, with the notable excep[tion of prices, which lept from 63.5 to 76.5...The softer ISM-services report moderates some of the euphoria from the ADP, but still the emerging picture is that the US economy has not slipped into recession and this favors further USD strengthening overall.
GBPJPY has formed a pennant on the hourly charts. This could be a bad sign for this pair. Typically the break of this pattern continues in the direction from which the market entered it. A break of this pattern could get us a move down to the 223.65/75 area.