[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish pressure yesterday and hit 134.37 earlier today in Asian session. On hourly chart below we can see the bullish channel has been violated to the downside suggests a serious threat to the major bullish outlook. The bias is bearish in nearest term testing 133.75 – 132.97. Immediate resistance at 135.00. A clear break above that area would lead us to neutral zone in nearest term testing 135.90 but would keep the major bullish scenario intact.

[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish pressure yesterday and hit 134.37 earlier today in Asian session. On hourly chart below we can see the bullish channel has been violated to the downside suggests a serious threat to the major bullish outlook. The bias is bearish in nearest term testing 133.75 – 132.97. Immediate resistance at 135.00. A clear break above that area would lead us to neutral zone in nearest term testing 135.90 but would keep the major bullish scenario intact.