GBP/JPY Forecast June 14, 2016, Technical Analysis

The GBP/JPY pair went back and forth during the course of the session on Monday, as we continue to see quite a bit of volatility. The 150 level below is massively supportive, so it may take a bounce in order to build up enough momentum to finally break down below that level. Once we do, the market should continue to go much lower, and as a result bring in more selling. Rallies that show signs of exhaustion can also be selling opportunities as this market has been so bearish for a significant amount of time.