GBP/JPY Forecast June 17, 2016, Technical Analysis

The GBP/JPY pair fell rather significantly during the day on Thursday, but ended up bouncing after the murder of a British MP in England. This was supposedly driven in response to the Brexit vote, and as a result, traders now seem to be speculating that the EU referendum vote will be delayed. This of course is a bit of a knee-jerk reaction so waiting for exhaustive candles might be the best thing to do on short-term charts. After all, there is no reason to think that we are going to delay the vote until it’s actually sad. This is a perfect example of how fickle these currency markets can be.