GBP/JPY Forecast February 9, 2017, Technical Analysis

The GBP/JPY pair fell during the day on Wednesday, but found the 140 level to be supportive enough to keep the market higher. I believe that a break above the top of the range for the session on Wednesday should send this market looking for the 144 handle again, but it will be choppy. The British pound is starting to show signs of support and life, so it would not surprise me at all to see this market reach to the upside. If we do breakdown below the bottom of the range for the day, I believe we will find 138.50 to be supportive underneath.