GBP/JPY Forecast December 5, 2016, Technical Analysis

The GBP/JPY pair rose slightly during the day on Friday, as we continue to see quite a bit of pressure in this market. I believe that the market will continue to show bullish pressure on the longer-term, but quite frankly this is a market that has far too much in the way of an overbought situation to start buying now. The shooting star from the Thursday session is the right idea as far as I can see, so I would like to see this market pullback towards the 140 level where I would continue to go long from there. - 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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