GBP/JPY Forecast August 11, 2016, Technical Analysis

The GBP/JPY pair fell a bit during the course of the session on Wednesday, drifting lower yet again. Ultimately, we are reaching towards the 130 level in my estimation, and therefore I feel that selling on short-term charts will continue to go forward. I believe that the 130 level above is essentially the “ceiling” in this market, and as a result I am sell only, but recognize that there is a lot of volatility ahead, as is typical with the pair anyway, as quite often it will jump around in large areas.

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