GBP/JPY Forecast August 30, 2016, Technical Analysis

The GBP/JPY pair initially tried to rally during the course of the session on Monday, but found enough resistance just below the 135 level to turn things around and form a bit of a shooting star. With this being the case it looks like the market is ready to roll back over, and as a result it’s very likely that we will see this market reach down towards the 130 handle. At this point, there’s no sign that the market should be bought, and it looks like it will only continue to offer selling opportunities.

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