GBP/JPY Forecast May 31, 2016, Technical Analysis

The GBP/JPY pair rose during the course of the day on Monday, as we continue to try to break out. We are testing the highs of the market from recent trading, so we believe it’s only a matter of time before the market not only goes higher, but interest more of a “buy-and-hold” phase. Pullbacks should continue to be buying opportunities, as there is more than enough support below to convince us that the British pound will continue to strengthen against the Japanese yen. At this point, we have a target of 165 over the next several sessions. - 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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