GBPJPY Forecast
The GBPJPY was volatile but indecisive yesterday. The bias is neutral in nearest term. Similar to the EURJPY, as you can see on my h4 chart below, this pair forms a V-Top formation which also can be seen as a “head and shoulders” formation from another point of view, suggests more bearish bias at this phase especially if price made a clear break below 129.82 testing 129.00 even lower as bearish reversal scenario would be confirmed. On the other hand, a break above 131.00 could lead us to neutral zone testing 132.00 and activate my wait and see mode.
