GBP/JPY Forecast October 21, 2016, Technical Analysis

The GBP/JPY pair initially fell during the course of the session on Thursday, but found enough support to turn things back around. The hammer that form for the day is very positive, but I think there’s more than enough resistance above and extending all the way to the 130 level to continue going higher for any real length of time. In the meantime, I am simply waiting for some type of exhaustive candle in order to start selling as I believe the bearish pressure will continue to drive the markets overall, as the British pound looks so soft. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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