GBP/JPY Forecast February 10, 2017, Technical Analysis

The GBP/JPY pair broke higher on Thursday, clearing the top of the hammer that formed on Wednesday. I believe that we are going to continue the uptrend, and therefore I’m looking for this market to reach towards the 145 level over the next several sessions. Pullbacks will continue to be bought, and the lows keep getting higher, the very essence of an uptrend. I think we break above the 145 level as well, and head towards the 148 handle over the longer term. I have no interest in selling as this strong trend looks likely to continue.