GBP/JPY Forecast June 13, 2016, Technical Analysis

The GBP/JPY pair fell during the course of the session on Friday, breaking down below the bottom of the hammer for the Thursday session. If we can break down below there, the market should continue to grow much lower, perhaps reaching towards the 152 handle. Rallies at this point in time more than likely will bring in sellers, as the weekly candle was of course a shooting star. Ultimately, we have no interest whatsoever in buying this market and are simply looking for a selling opportunity. Once we break down, we could very well find ourselves reaching towards the 150 handle.