[m.youssif]

GBPJPY Forecast
The GBPJPY was indecisive yesterday, made a Doji on daily chart and now still struggling around 135.00 area. The bias is neutral in nearest term. CCI is moving down below zero level on daily chart suggests more bearish intraday bias but need a movement below -100 to continue the bearish pressure testing 132.50. Immediate support to be tested is around 133.75/50. A clear break below that area would trigger further bearish pressure testing 132.50 even lower. The overall technical bias remains to the downside but a strong Yen appreciation could trigger another intervention to weaken the Yen. Immediate resistance at 135.80. A clear break above that area would change the intraday bias to bullish testing 137.00 resistance area.

[m.youssif]

GBPJPY Forecast
The GBPJPY was indecisive yesterday, made a Doji on daily chart and now still struggling around 135.00 area. The bias is neutral in nearest term. CCI is moving down below zero level on daily chart suggests more bearish intraday bias but need a movement below -100 to continue the bearish pressure testing 132.50. Immediate support to be tested is around 133.75/50. A clear break below that area would trigger further bearish pressure testing 132.50 even lower. The overall technical bias remains to the downside but a strong Yen appreciation could trigger another intervention to weaken the Yen. Immediate resistance at 135.80. A clear break above that area would change the intraday bias to bullish testing 137.00 resistance area.