GBP/JPY Forecast February 16, 2017, Technical Analysis

The GBP/JPY pair fell slightly during the day on Wednesday, but quite frankly there is more than enough support below to keep this market going higher. If we can break above the top of the range for the day, I think that’s a buying opportunity that should send this market looking for the 145 handle. The 140-level underneath is massively supportive, and I believe the “floor” in the market. Expect volatility, this pair always has it, but given enough time I think the buyers are starting to flex their muscles yet again.