GBP/JPY Forecast August 29, 2016, Technical Analysis

The GBP/JPY pair had a slightly positive session during the day on Friday, as we continue to bounce around in the general vicinity of the 133 level. I still believe that there is a massive amount of resistance at 135 though, so at this point in time and waiting to see whether or not we get an exhaustive candle after short-term rally the we concerned selling. I believe that the best way to play this market, as we most certainly have quite a bit of negativity when it comes to the British pound overall.

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