GBP/JPY Forecast November 23, 2016, Technical Analysis

The GBP/JPY pair had a volatile session on Tuesday as we continue to bang around just above the previous downtrend line. I believe that the market is now going to reach towards the 140 level above, which is a massive resistance barrier. The British pound is in exactly a currency I want to own, but quite frankly the Japanese yen is being sold off against almost everything, so at this point I believe that the market will continue to go higher over the longer term. This is more about the Japanese yen and less about the British pound.