GBP/JPY Forecast January 17, 2017, Technical Analysis

The GBP/JPY pair gapped lower at the open on Monday, as we continue to see a lot of bearish pressure in this pair. Ultimately, I think that there is significant support below, but this of course suddenly looks like we are going to go even lower. Exhaustive candles between here and the 140 level should be selling opportunities for the short-term, with perhaps significant support at the 135 level below to turn things back around to the upside. Regardless, this is going to be an extraordinarily volatile currency pair over the next several sessions.