GBP/JPY Forecast March 3, 2017, Technical Analysis

The GBP/JPY pair rallied a bit during the day on Thursday, as we continue to find buyers just below the 150 handle. I think that if we can break above the top of the range, the market should continue to go higher, perhaps the 143 level being the first target. It is a bit choppy, but if the British pound can rally against the US dollar, that should translate into higher levels over here. I believe that there is a massive amount of support just below, so I don’t have any interest in shorting this pair.