GBP/JPY Forecast September 13, 2016, Technical Analysis

The GBP/JPY pair initially fell during the course of the day on Monday, but turn right back around to form a hammer. By doing so, it looks as if the 135 level has offered support, and we could very well find ourselves trying to grind towards the 138 level above. A break down below the hammer could be a selling opportunity, perhaps reaching down to the 132 handle. Ultimately, this is a market that continues to show quite a bit of volatility, and that of course will continue to be a mainstay of this particular pair.

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