GBP/JPY Forecast October 25, 2016, Technical Analysis

The GBP/JPY pair had a slightly positive session during the day on Monday, but nothing overly exciting at this point in time. Ultimately, this is a market that has quite a bit of bearish pressure in it, and with this I believe that an exhaustive candle should present itself as a trading opportunity sooner or later. I believe that this is a market that you cannot buying, and that the 130 level above should be the ceiling. I believe that the 125 level below is supportive, so at this point in time I think we need to attempt to break down below it several times in order to break down completely.