GBP/JPY Forecast November 2, 2016, Technical Analysis

The GBP/JPY pair initially tried to rally on Tuesday but found enough resistance above to turn things around and form a slight shooting star. The shooting star of course is a negative sign, so I think at this point in time the market may try to grind lower. I do recognize that there is a lot of support below though, so very likely we will see short-term back and forth trading again and again. I also recognize that the 130 level above is massively resistive, just as the 125 level below is massively supportive. - 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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