GBP/JPY Forecast June 29, 2016, Technical Analysis

GBP/JPY  rose slightly during the course of the day as the 135 level offered support. This was a bit of a bounce, we are simply consolidating above the 135 level in order to build up enough momentum to break below, in my estimation. There is still  gap above that needs to be filled, so we could see buyers continue to press the issue. Ultimately though, I believe that GBP/JPY would be easier to sell on short-term rallies.

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