GBP/JPY Forecast July 14, 2016, Technical Analysis

The GBP/JPY pair fell slightly during the course of the session on Wednesday, as we found the top of the previous gap very resistive. However, I do think that we will probably find some type of support near the 135 level, and that could offer a nice buying opportunity. On a bounce or a supportive candle, I’m willing to go long. Am also willing to go long on a break above the top of the range from both the Tuesday and Wednesday session, as we could pick up serious steam due to the fact that there is “empty air” just above.