GBP/JPY Forecast December 28, 2016, Technical Analysis

The GBP/JPY pair found enough support at the 143.50 level on Tuesday to bounce slightly and show signs of life again. The longer-term uptrend should continue to be very positive and strong, as I believe the market is going to reach towards the 150 handle. I have no interest in shorting this market, and believe that there is a bit of a floor in the market near the 140 handle. Pullbacks offer value, as the Japanese yen continues to get sold off against almost all currencies around the world. Ultimately, selling is all but impossible.