GBP/JPY Forecast June 27, 2016, Technical Analysis

The GBP/JPY pair fell significantly during the course of the session on Friday, slicing through the 150 level. This of course has everything to do with the United Kingdom voting to leave the European Union. We did get a bit of a bounce, roughly 7 handles, by the end of the day and as a result it looks as if short-term exhaustive candles could be reason enough to start selling again. I have no interest in buying this pair right now, because quite frankly the British pound will continue to fall in value as we will reassess the New World.