GBP/JPY Forecast September 6, 2016, Technical Analysis

The GBP/JPY pair fell slightly during the course of the session on Monday, as we continue to see quite a bit of volatility. As we pullback, I think there is a significant amount of support near the 135 handle, which of course was both supportive and resistive in the past. Ultimately, some type of pullback could offer the value that buyers are looking for, as we should then reach towards the 140 handle. A break down below there should send the market down to the 130 handle as the 135 level being broken is a sufficiently negative sign.

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