alexkyp
Short

GJ Potential Sell

FX:GBPJPY   British Pound / Japanese Yen
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1
GBP has reached significant high levels past week and is heading for some consolidation before it rise or drops, JPY was quite stable the past week around 109.00 and around the end of the week started droping. My macro view on USDJPY is further drop as dollar is expected to devalued the same way as in 1985 when president Regan devalued the dollar against the Yen and led Japan Banks to the Top of Worlds top 20 Banks . US is currently the most affected country in the world from COVID-19 .

As from technicals , the extended upward rejection of 135.80 and the B& Retest of previous resistance are are clear signs of a downward trend with FIBS around the same are we can expect the pair to retest previous support levels such as 134.40 and 133.80

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