GBP/JPY Forecast July 28, 2016, Technical Analysis

The GBP/JPY pair rallied during the day on Wednesday, but turned back around and form a slightly exhaustive candle. Nonetheless, I think the 135 level is massively supportive, so pullbacks should offer short-term buying opportunities. If we did break below the 135 handle, I think that would be the time to start selling. In the meantime, keep in mind that the Bank of Japan is willing to intervene against the Yen if we fall too far, but I am the first person to admit that it will more than likely be in the USD/JPY market, and any reaction over here would be a bit of a sympathy move. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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