GBP/JPY Forecast May 25, 2016, Technical Analysis

The GBP/JPY pair broke higher during the course of the session on Tuesday as the 158 level offered quite a bit of support. That supportive of course lifted the market much higher, and it appears that the markets will continue to find quite a bit of bullish pressure. I believe that the 158 level below is essentially the floor”, and as a result future pullbacks should continue to find buyers in this market, and eventually we could break out to the upside. However, expect a lot of volatility, because it is very difficult to deal with all of the noise.