theforexportal

GBPJPY likely to follow GBPUSD's lead

FX:GBPJPY   British Pound / Japanese Yen
In my assessment of GBPUSD I paint quite a gloomy picture for GBP BULLS and with GBP/JPY sitting on top of the critical 200 sma on the daily time frame, this pair is poised to either sink or swim.
The RSI is BEARISH as is the TDI on H4 but the D1 TDI is more mixed as we have a squeeze and its unclear which way we are going to break. Should the RSI line head for the lower volatility band then we can assume a move south is likely.
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