[m.youssif]

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday, made a Doji on daily chart. The bias is neutral in nearest term. As long as price moves inside the bearish channel the major bearish scenario remains intact but I think we are still in bullish correction phase after good UK GDP on Tuesday testing 129.82 and the upper line of the bearish channel. Immediate support at the lower line of the minor bullish channel (blue channel) and 128.25 area. Clear break below that area could trigger further bearish pressure testing 127.62 and 126.43 region.

[m.youssif]

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday, made a Doji on daily chart. The bias is neutral in nearest term. As long as price moves inside the bearish channel the major bearish scenario remains intact but I think we are still in bullish correction phase after good UK GDP on Tuesday testing 129.82 and the upper line of the bearish channel. Immediate support at the lower line of the minor bullish channel (blue channel) and 128.25 area. Clear break below that area could trigger further bearish pressure testing 127.62 and 126.43 region.