GBP/JPY Forecast November 11, 2016, Technical Analysis

The GBP/JPY pair initially fell on Thursday but found the 130 level to be supportive enough to cause a massive bounce. We have broken above the 132 handle now, and it now looks as if we are trying to grind our way to the 140 handle. With this being the case, I believe that it’s only a matter of time before we get there, but short-term pullbacks might be needed to go long as the market has a lot of noise between here and that region. I believe that the 130 level should now be the floor.