GBP/JPY Forecast June 28, 2016, Technical Analysis

The GBP/JPY pair gapped lower at the open again on Monday, and it now looks as if the markets are going to continue to show bearish pressure due to the fact that there is so much in the way of headline risk when it comes to the British pound. With this, and the fact that this is a market that is highly sensitive to risk appetite, I still believe that short-term rallies and show signs of exhaustion might be the way to go, as it offers a selling opportunity. Obviously, a break down to a fresh, new low would also be a selling opportunity.