GBP/JPY Forecast November 15, 2016, Technical Analysis

The GBP/JPY pair had a slightly positive session on Monday as we continue to show signs of strength. The market is a bit overextended at this point so I would prefer to see a short-term buying opportunity in order to go long. I do recognize that a break above the top of the range for the day is fairly strong, but somewhere near the 136 handle we do have quite a bit of resistance. Because of this, I am simply waiting for my buying opportunity as I believe that the “floor” is near the 130 handle. - 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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