[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish intraday bias yesterday but still unable to break below 135.00 support area. Price is still in a strong bearish correction phase but need a clear break below 135.00 to continue the bearish phase, even could lead us to a bearish reversal scenario at least testing 133.50. Immediate resistance at 137.50, which I think is the best place for a short intraday position with good risk – reward ratio. A clear break above 137.50 would halt the current strong bearish correction phase but we need a clear break above 139.67 to end the bearish correction and continue the major bullish scenario since the intervention.

[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish intraday bias yesterday but still unable to break below 135.00 support area. Price is still in a strong bearish correction phase but need a clear break below 135.00 to continue the bearish phase, even could lead us to a bearish reversal scenario at least testing 133.50. Immediate resistance at 137.50, which I think is the best place for a short intraday position with good risk – reward ratio. A clear break above 137.50 would halt the current strong bearish correction phase but we need a clear break above 139.67 to end the bearish correction and continue the major bullish scenario since the intervention.