GBP/JPY Forecast May 26, 2016, Technical Analysis

The GBP/JPY pair had a slightly positive session on Wednesday, as we tested the 162 handle. If we can break above there, the market could go much higher, but at this point in time we would not be surprised to see a slight pullback in order to build up enough momentum to do so. That should be a buying opportunity on signs of support, just as a break out above the top of the range for the day on Wednesday would be as well. We have no interest in selling this market currently, as it certainly looks as if the buyers are starting to take control yet again. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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