GBP/JPY Forecast October 27, 2016, Technical Analysis

The GBP/JPY pair had a positive session on Wednesday, as we continue to bang around these levels. I think that any rally at this point in time would have to be sold on signs of exhaustion, and I think that we will probably get those. A break down below the 125 level sends this market to much lower levels, but I don’t agree are going to see that anytime soon as we continue to simply grind sideways and try to figure out where to go next now that everybody knows the British are leaving the European Union.