GBP/JPY Forecast September 26, 2016, Technical Analysis

The GBP/JPY pair fell significantly during the day on Friday, as we continue to grind around just above the 130 handle. I believe that the 130 level below is going to be the target, and then possibly significant support. A break down below the 130 level would be a negative sign, perhaps sending this market down towards the 125 handle after that. I have no interest in buying, and I believe that a rally that show signs of exhaustion could be a nice selling opportunity as well. Given enough time, I think the sellers will win.

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