GBP/JPY Forecast January 20, 2017, Technical Analysis

The GBP/JPY pair broke out to the upside during the day on Thursday, as we continue to see the Japanese yen gets sold off. Because of this, I am a buyer of this pair, and I believe that the 140 level should now offer a bit of a floor in the market. Given enough time, I believe that the market within reach towards the 148 level again, and eventually the 150 handle. The Japanese yen should continue to show signs of weakness, as the market shows signs of strength when it comes to currencies against the yen.