GBP/JPY Forecast June 15, 2016, Technical Analysis

The GBP/JPY pair fell during the day here on Tuesday, but found enough support to bounce slightly towards the end of the day. We are below the 150 level, and that of course is negative. However, I’m going to wait until we break down below the bottom of the range for the day on Tuesday in order to start selling, because it would show an escalation of the downward pressure. We very well could get a bit of a bounce from here, but that should end up being a selling opportunity on signs of exhaustion.