GBP/JPY Forecast June 20, 2016, Technical Analysis

The GBP/JPY pair initially fell during the course of the session on Friday, but turned right back around to form a hammer. That being the case, we could very well see this market rally from here, but more or less just for a short-term trade in my estimation. After all, we have the UK voting on whether or not they are staying in the European Union and the next few days, and that will continue to be very important as to where this market goes. In the short-term, and very likely that volatility will behind.