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IkanBilisCapital

GBPJPY poised for more downside

Short
British Pound / Japanese Yen (FX:GBPJPY)  
IkanBilisCapital  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators GBPJPY gbpyjpy gbpyjpysell gbpyjpybuy gbpyjpyshort
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trendanalysis chartpattern indicator gbpjpy gbpyjpy gbpyjpysell gbpyjpybuy gbpyjpyshort
The pair looks like it's ready to move down again after some consolidation at this levels. The upside should be fairly capped for this pair.

BEAR CASE
We could see price test 153.5 before more downside.

BULL CASE
On the daily, the 200MA at 152 may serve as suspport for a storng rebound, if this plays out we will look for a short at much higher levels.
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