FX:GBPJPY   British Pound / Japanese Yen
28 0 0
The monthly outlook for this pair suggested to take into account a reversal possibility. Now we see that the weekly chart tells a similar story. Stoch wants to settle down in the below 50% zone. The neckline of the HS pattern is broken, which coincides with the breaking out of LMLH. The price is now seemingly headed towards the next level to retest the monthly UMLH around Fib .236 level. As a result, the long-term outlook for this pair is in favor of the short positions.
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