[m.youssif]

GBPJPY Forecast
The GBPJPY had a significant bearish momentum yesterday, bottomed at 129.17 and closed at 128.84. The bias remains bearish in nearest term especially if price able to make another strong break below 129.17 targeting 127.50 even 125.50 in longer term. Immediate resistance at 131.00. A clear break above that area would change the intraday bias to bullish testing 132.50 which could be a threat to the bearish scenario. Note that the price movement seems to be remains under the influence of Tsunami impact and nuclear crisis in Japan. Although risk aversion sentiment will likely to dominate and keep support broad Yen strength, this kind of sentiment can change quickly anytime.

[m.youssif]

GBPJPY Forecast
The GBPJPY had a significant bearish momentum yesterday, bottomed at 129.17 and closed at 128.84. The bias remains bearish in nearest term especially if price able to make another strong break below 129.17 targeting 127.50 even 125.50 in longer term. Immediate resistance at 131.00. A clear break above that area would change the intraday bias to bullish testing 132.50 which could be a threat to the bearish scenario. Note that the price movement seems to be remains under the influence of Tsunami impact and nuclear crisis in Japan. Although risk aversion sentiment will likely to dominate and keep support broad Yen strength, this kind of sentiment can change quickly anytime.