GBP/JPY Forecast August 31, 2016, Technical Analysis

The GBP/JPY pair rallied during the course of the session on Tuesday, as we are testing the 135 level above. This is an area that should be rather resistive, so we can break above there, the market should continue to go higher and then reach to the 140 level above there. Ultimately, exhaustive candles could be a nice selling opportunity, but at this point in time we certainly don’t have that opportunity. Because of this, I am simply observing this market at the moment, but given enough time I think that I will be selling yet again.

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