GBP/JPY Forecast September 12, 2016, Technical Analysis

The GBP/JPY pair initially tried to rally during the course of the day on Friday but turned right back around form a shooting star. However, it was preceded on Thursday by a hammer right at the 135 handle. In other words, I think we’re going to go sideways and chop around quite a bit. Ultimately, I believe that this is a market that’s probably best left alone in the short-term, but we most certainly will get some type of longer-term signal sooner rather than later as traders come back from summer vacation.

Economic Calendar