GBP/JPY Forecast April 17, 2017, Technical Analysis

The GBP/JPY pair initially tried to rally on Friday, but found enough resistance above to turn things around and find sellers again. We are testing the 136 handle, and I believe that the market is getting ready to break below there and reach towards the 134-handle underneath which is the 61.8% Fibonacci retracement level. I have no interest in buying, and I believe with all the headline risk out there now, it’s likely that the “risk off” scenario will come back into play, sending this pair lower. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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