GBP/JPY Forecast December 16, Technical Analysis

The GBP/JPY pair initially rallied on Thursday but turned around to form a bit of a shooting star. I believe that this market is going to pull back from here, and that the pullback should be a nice buying opportunity. Somewhere near the 143 level we should see quite a bit of support, and then even if we break down below there the market should reach down to the 140 handle which I believe is essentially the “floor” in this market right now. I have no interest in selling, and the shooting star makes me think that we will get quite a bit of value in this market fairly soon. - 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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