[m.youssif]

GBPJPY Forecast
The GBPJPY was unable to make a clear break above 134.20 yesterday and significantly down and hit 132.90. The bias is bearish in nearest term but note that as long as price moves inside the bullish channel the overall technical bias remains more to the upside. There are no changes in my daily technical outlook. Aggressive intraday traders can still 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, we need a clear break above 134.20 to continue the bullish scenario testing 135.50 key resistance area.

[m.youssif]

GBPJPY Forecast
The GBPJPY was unable to make a clear break above 134.20 yesterday and significantly down and hit 132.90. The bias is bearish in nearest term but note that as long as price moves inside the bullish channel the overall technical bias remains more to the upside. There are no changes in my daily technical outlook. Aggressive intraday traders can still 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, we need a clear break above 134.20 to continue the bullish scenario testing 135.50 key resistance area.