[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bullish momentum yesterday topped at 139.67 but corrected lower earlier today in Asian session and hit 138.65. The bias is bearish in nearest term testing 138.10 support area but note that the current bearish pressure should be seen as a normal correction after strong bullish run since the intervention and I still prefer a bullish scenario at this phase. On my h1 chart below we can see price is moving in a range area between 139.67 – 138.10 indicates consolidation. A clear break above the range would continue the major bullish scenario testing 142.00 and 145.95.

[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bullish momentum yesterday topped at 139.67 but corrected lower earlier today in Asian session and hit 138.65. The bias is bearish in nearest term testing 138.10 support area but note that the current bearish pressure should be seen as a normal correction after strong bullish run since the intervention and I still prefer a bullish scenario at this phase. On my h1 chart below we can see price is moving in a range area between 139.67 – 138.10 indicates consolidation. A clear break above the range would continue the major bullish scenario testing 142.00 and 145.95.