GBP/JPY Forecast January 13, 2017, Technical Analysis

The GBP/JPY pair broke down below the 140 handle during the session on Thursday, testing the 100-day exponential moving average. I see a significant amount of support at the 138.50 level though, so if we can bounce from that region, I think the market will continue the uptrend. If we can break down below that area, we will more than likely continue to drop from there. This could be a very important day for this pair, so pay attention and thus we should get a signal to either buy or sell in the next 24 hours.