GBPJPY , resumed with it's bearish momentum from last week as expected but however support around 142,167 may hold and consequently could result in a bounce off the trendline , if the bounce of holds we can expect a long opportunity around the 142,167 key area. Another opportunity for further shorts could prevail if the trend line and support of 142,167 does not hold, we could potentially see a breakout around that level if pound weakness persists. Ultimately if the breakout is achieved a good opportunity to buy pound yen should be visible around the key support level of 139,156
For now we should let price action take it's course.
For now we should let price action take it's course.