GBP/JPY Forecast February 24, 2017, Technical Analysis

The GBP/JPY pair fell a bit during the day on Thursday, as the market continues to grind sideways. The market looks likely to find quite a bit of support at the 140-level underneath, and thus I believe it’s only a matter of time before will bounce from there and continue to go much higher. The market should then reach towards the 145 level, and I believe that the Japanese yen will continue to be sold off. Because of this, I’m a buyer on dips and I believe it’s only a matter of time before we see higher prices.