GBP/JPY Forecast March 14, 2017, Technical Analysis

The GBP/JPY pair rallied on Monday, testing the top of the shooting star from Friday. It appears that there is significant support just below, so Vercelli pullback I think that the buyers are going to come back into this market. If we can break above the 141 handle, we should then be free to go to the 142.50 handle after that. Ultimately, I think that the market will continue to go even higher than that, and I am bullish but I recognize that it should be rather choppy in general, so you must be able to deal with that type of volatility.

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