GBP/JPY Forecast November 14, 2016, Technical Analysis

The GBP/JPY pair had a calm day on Friday as the market catches its collective breath. The candle is somewhat supportive though, so a break above the top of that I believe has this pair going towards the 140 handle given enough time. That is an area where we will see a massive amount of resistance though, so I’m not looking for a massive breakout at that point. Pullbacks could be buying opportunities as well, as the 130 level below is massively supportive now. However, I will say that I do not believe that the trend is changed yet.