GBP/JPY Forecast February 3, 2017, Technical Analysis

The GBP/JPY pair fell during the day initially on Thursday, but continues to see quite a bit of interest at the 140 handle. Because of this, I believe it’s only a matter of time before the buyers return. Having said that, we have a relatively negative candle that we are looking at, so I would prefer to see a supportive candle that I can get involved with. I’m still bullish, but I recognize that the British pound had a fairly rough session during the day, so we may need to settle down a bit.