GBP/JPY Forecast November 21, 2016, Technical Analysis

The GBP/JPY pair went back and forth during the course of the Friday trading hours, as we banged up against a rather significant downtrend line. If we can break down below the bottom of the range for the day on Friday, I feel that the market will then try to reach towards the 130 handle. If we can break above the top of the candle for the session on Friday, we will more than likely reach towards the 140 handle. Ultimately, this is a market that looks a bit overextended and of course has been in a long-term downtrend.

Eracash.com - 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.

All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. Eracash.com bears no responsibility for any trading losses you might incur as a result of using any data within the Eracash.com