GBP/JPY Forecast May 10, 2016, Technical Analysis

The GBP/JPY pair initially fell during the day on Monday, but then turn right back around to test the 156 level. Keep in mind that “The Dragon” tends to move rather rapidly, and with that being the case it’s likely that any move higher could be rather brutal. After all, we are coming close to breaking the top of the range from the previous week, and that of course would be an opportunity for the market to completely overtake the previous downturn. This is a highly sensitive market when it comes to risk appetite, so keep that in mind. The better risk appetite is, the higher this pair tends to go.