GBPJPY DAILY OUTLOOK 22-26 MAY 2017
Looking at Daily Chart, Bears are still in control. No new highs are formed. Hence, downside movement is still in play and looking at 50/61.8 Fib Level.
In addition to that, looking at current issue on Trump-FBI-Russia issue, markets seem to favour on the safe haven CCY due to uncertainties (RiskOff). Hence, JPY buying is increased and this automatically gives the bears to take control on the Geppy.
However if price rally above 147. 5 key level area, we could see a Long Continuation on GBPJPY.
In addition to that, looking at current issue on Trump-FBI-Russia issue, markets seem to favour on the safe haven CCY due to uncertainties (RiskOff). Hence, JPY buying is increased and this automatically gives the bears to take control on the Geppy.
However if price rally above 147. 5 key level area, we could see a Long Continuation on GBPJPY.
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