GBP/JPY Forecast September 27, 2016, Technical Analysis

The GBP/JPY pair fell during the day on Monday, breaking down to the 130 handle. Any rally at this point in time should show signs of exhaustion that we have seen for some time. This market should continue to be a nice selling opportunity, and a break down below the 130 level for any real significant time would be extraordinarily area. At this point, I have no interest whatsoever in buying this pair, and believe that we will continue to see sellers arrive again and again. With this, I believe that we will reach towards the 125 handle given enough time.

Economic Calendar