[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish momentum yesterday, bottomed at 132.90 and traded around 133.20 at the time I wrote this comment. The bias remains bearish in nearest term but note that overall price is still move in a sideways mode without clear direction in the last two weeks. However, as you can see on my h4 chart below, price still moves inside a bullish channel which is actually suggests more upside bias. Aggressive intraday traders can long around 132.50 with stop loss below 131.75 while conservative traders can long around 131.75 (the lower line of the bullish channel) with smaller stop loss. On the upside, a clear break above 134.20 would change the intraday bias to bullish retesting 135.50 key resistance area.

[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish momentum yesterday, bottomed at 132.90 and traded around 133.20 at the time I wrote this comment. The bias remains bearish in nearest term but note that overall price is still move in a sideways mode without clear direction in the last two weeks. However, as you can see on my h4 chart below, price still moves inside a bullish channel which is actually suggests more upside bias. Aggressive intraday traders can long around 132.50 with stop loss below 131.75 while conservative traders can long around 131.75 (the lower line of the bullish channel) with smaller stop loss. On the upside, a clear break above 134.20 would change the intraday bias to bullish retesting 135.50 key resistance area.