[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish bias yesterday, bottomed at 129.56, closed at 129.88. The bias remains bearish in nearest term still targeting 129.33. Clear break below that area could trigger further bearish pressure testing 127.00 – 126.50 support area this week. Immediate resistance at 130.84. A clear break above that area could trigger further upside pullback testing 132.00 and could lead us to a ranging market as we are now entering Christmas season and the end of the year. My intra-day risk-reward ratio looks not so good now so I think I will stand aside and see further development.

[m.youssif]

GBPJPY Forecast
The GBPJPY continued its bearish bias yesterday, bottomed at 129.56, closed at 129.88. The bias remains bearish in nearest term still targeting 129.33. Clear break below that area could trigger further bearish pressure testing 127.00 – 126.50 support area this week. Immediate resistance at 130.84. A clear break above that area could trigger further upside pullback testing 132.00 and could lead us to a ranging market as we are now entering Christmas season and the end of the year. My intra-day risk-reward ratio looks not so good now so I think I will stand aside and see further development.