GBP/JPY Forecast June 22, 2016, Technical Analysis

The GBP/JPY pair initially gapped higher at the beginning of the week, and now continues to drive higher. Ultimately, we do get back a little bit of the gains during the day on Tuesday, but I do think that this pair probably has a little bit of momentum left in it to go to the upside. A break above the top the candle should send this market towards the 157 level, but then again we could turn right back around to fill the gap which would send this market all the way down to the 150 level. An exhaustive candle could get you selling, but really at this point in time expect a lot of volatility.