GBP/JPY Forecast May 13, 2016, Technical Analysis

The GBP/JPY pair rose during the day on Thursday, as we continue to see bullishness in this market. Remember, this is a highly risk sensitive marketplace, and as a result “the Dragon” will continue to grind higher as long as stock markets and commodity markets around the world look at least somewhat healthy. There is a fair amount of resistance above and of course the psychologically significant level of 160, so expect volatility but at this point in time I have to say that I think this is a very positive market.