GBP/JPY Forecast September 23, 2016, Technical Analysis

The GBP/JPY pair rallied during the course of the session on Thursday, reacting perhaps to the 130 level just below. However, I do believe that sooner or later we will have a selling opportunity present itself on exhaustion. As soon as we get that, I am willing to jump into this market as it is most certainly negative overall. Ultimately, I think that we will probably break down below the 130 handle, and perhaps even go lower than that. Buying isn’t even much of a thought at this point in time in my opinion.

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