GBP/JPY Forecast January 3, 2017, Technical Analysis

The GBP/JPY pair rallied on Friday, breaking above the top of the hammer from Thursday. Because of this, looks as if the buyers are starting to reenter the market, reaching towards the 145 handle. Ultimately, if we can break above there think the market will then go to the 150 handle. This is a market that continues to be “buy on the dips” as far as I can see, and because of this I feel that the market will continue to offer buying opportunities. I think that the 140 level below is the absolute “floor” of the market.