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IkanBilisCapital

Mega downside coming for GBPJPY

Short
British Pound / Japanese Yen (FX:GBPJPY)  
IkanBilisCapital  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators GBPJPY gbpjpyshort gbpjpylong gbpjpyanalysis gbpjpyprediction gbpjpyforecast
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trendanalysis chartpattern indicator gbpjpy gbpjpyshort gbpjpylong gbpjpyanalysis gbpjpyprediction gbpjpyforecast
Similar to USDJPY and CHFJPY we are covering this week, the pound yen has farther downside to go. A strong upward correction needs to happen before we enter our short position. The weakness in this is amplified by the structural weakness we see in the pound dollar and the downside move should be juicy.

BEAR CASE
Retest to the upside at around 157 and we ride to 153.
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