GBP/JPY Forecast January 30, 2017, Technical Analysis

The GBP/JPY pair rallied slightly during the day on Friday as we continue to reach towards the 145 handle. If we can pull back from here, I think that will only end up offering value for traders, and that sooner rather than later buyers would get involved. Alternately, if we can break above the 145 handle, the market should then continue to go towards the 148 level above. I believe that the 140 level is the “floor” in the market currently, so if we stay above there, I believe the buyers will continue to run the show.