GBP/JPY Forecast September 22, 2016, Technical Analysis

The GBP/JPY pair initially tried to rally during the course of the session on Wednesday, but turn right back around to test the 130 level. I believe that this market will find support sooner or later, but it is obvious to me that we have quite a bit of negativity in this pair. I believe a short-term rally will more than likely offer selling opportunities going forward, so having said that I have no interest in buying, even if we get a bit of a bounce at this point in time as we have seen such a strong move.

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