GBP/JPY Forecast December 2, 2016, Technical Analysis

The GBP/JPY pair went back and forth during the day on Thursday, as we continue to find bullish pressure but are most certainly getting a bit overextended. Because of this, I feel that the market needs a pullback in order to find buying opportunities below that represent value. The 140 level underneath continues to be an area of interest as far as I can see, so having said that I think that the buyers will return at what was once a massive resistance barrier. Given enough time, I think were going to try to reach above the 145 level yet know.