FX:GBPJPY   British Pound / Japanese Yen
26 3 2
The primary trend of GBP/JPY             is bearish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA downside indicating downtrend of the pair.
Resistance level of 153.36 and Support level of 151.65
If it breaks its suppport level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

INDICATORS:-
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.

STRATEGY: GBP/JPY             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
Absoulte rubbish will reach 154 handle with 7 days.
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tayalsmith Paulgosal
This forecast is not for 7 days, its for today only.
Reply
Paulgosal tayalsmith
well it reached 14 handle then retraced back.. where to now in your opinion ?..
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