[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish momentum yesterday, bottomed at 130.89 after made a clear break below 132.97 as you can see on my h4 chart below. The bias remains bearish in nearest term targeting 130.20. Immediate resistance at 132.97, which is the best place for a short position with good risk –reward ratio. A clear break above 132.97 would lead us to neutral zone in nearest term as direction would become unclear testing 134.00 area.

[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish momentum yesterday, bottomed at 130.89 after made a clear break below 132.97 as you can see on my h4 chart below. The bias remains bearish in nearest term targeting 130.20. Immediate resistance at 132.97, which is the best place for a short position with good risk –reward ratio. A clear break above 132.97 would lead us to neutral zone in nearest term as direction would become unclear testing 134.00 area.