[m.youssif]

GBPJPY Forecast
The GBPJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but we are still in a major strong bearish outlook. On daily chart below we can see price is now testing a crucial support around 126.50/10. Technically, from a broader outlook, there are two possibilities in this kind of situation. First, if this support area hold, strong upside pullback could take place, even a potential starting point for a bullish reversal scenario. Second, bearish scenario would continue if price able to make a clear break below that support area at least targeting 125.30 even much lower. Immediate resistance at 127.05. Break above that area could trigger further bullish pullback testing 127.50/80 resistance area.

[m.youssif]

GBPJPY Forecast
The GBPJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but we are still in a major strong bearish outlook. On daily chart below we can see price is now testing a crucial support around 126.50/10. Technically, from a broader outlook, there are two possibilities in this kind of situation. First, if this support area hold, strong upside pullback could take place, even a potential starting point for a bullish reversal scenario. Second, bearish scenario would continue if price able to make a clear break below that support area at least targeting 125.30 even much lower. Immediate resistance at 127.05. Break above that area could trigger further bullish pullback testing 127.50/80 resistance area.