GBP/JPY Forecast April 21, 2017, Technical Analysis

In this show of strength, the GBP/JPY pair rally during the Thursday session, breaking above the top of the shooting star from the Wednesday session. If we can clear the 141 level, this market could go much higher. In fact, I think it would be a trend change and it looks likely that’s what’s about to happen. Short-term pullback should be buying opportunities, and I have no interest in selling a market that has clearly shown it wants to go much higher. Longer-term, we could be looking at a move towards the 143 handle.

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