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Gbpjpychart

GBP/JPYThe British pound fell a bit last week as we have seen a major “risk off” attitude approach the markets. All of that being said, the market is very sensitive to risk appetite as the Japanese yen is considered to be a major safety currency, while the British pound will gain against it in times of “risk on.” At this point, it looks like there are serious cracks in the marketplace, and a move below the ¥149 level on a daily close could send this pair down to the ¥145 level rather quickly. Regardless, even if we rally from here, the market would have a lot of proving to do in order to become bullish.
Short
by SmoothJB
GBPJPY. 148 inevitable we will see what happens after.We should see the pound yen find short term relief this coming week to retest the 148 levels after which we will and see which side finds more conviction as the bears and bulls wrestle for this extremely important price level. BULL CASE I think it is slightly more likely that the bulls try and push the price back to the 152 area. BEAR CASE However, if the bears find more conviction, we should see resistance near the 149.5 level before breaking down to test the 144 to 145 levels
Long
by IkanBilisCapital