GBP/JPY Forecast December 21, 2016, Technical Analysis

The GBP/JPY pair initially rallied on Tuesday, but did struggle a bit as we reached above the 146 handle. Because of this, I think we could get a little bit of a short-term pullback that will offer value. That value is something that I would like to take advantage of, as the market should then reach to higher levels, eventually the 150 level. I think that the 140 level below is the absolute “floor” in this market, so with that being the case, I recognize that sooner or later any move that this market makes is probably going to be a buying opportunity.

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