[m.youssif]

GBPJPY Forecast
The GBPJPY had a significant bearish momentum on Friday, broke below the bullish channel as you can see on my daily chart below. This bearish momentum was triggered by a broad Yen strength after the earthquake and Tsunami in Japan. While technical outlook has change to a bearish view now targeting 129.50, things can be very tricky now as market sentiment to a natural disaster can change quickly to the opposite direction. Immediate resistance at 132.90. A clear break above that area would change the intraday bias to bullish testing 133.70 and 134.20 resistance area.

[m.youssif]

GBPJPY Forecast
The GBPJPY had a significant bearish momentum on Friday, broke below the bullish channel as you can see on my daily chart below. This bearish momentum was triggered by a broad Yen strength after the earthquake and Tsunami in Japan. While technical outlook has change to a bearish view now targeting 129.50, things can be very tricky now as market sentiment to a natural disaster can change quickly to the opposite direction. Immediate resistance at 132.90. A clear break above that area would change the intraday bias to bullish testing 133.70 and 134.20 resistance area.