GBP/JPY Forecast June 10, 2016, Technical Analysis

The GBP/JPY pair fell during the day initially on Thursday, but bounce slightly towards the end of the day. Ultimately though, this is a market that certainly has quite a bit of bearish pressure in it, so rallies at this point in time will more than likely be selling opportunities. I have no interest in buying this market, the 50 day exponential moving average has shown quite a bit of resistance, and as a result I am looking for exhaustive candles after short-term rallies to start selling again. Other than that, I will probably stay on the sidelines of this market. - 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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