GBP/JPY Forecast April 24, 2017, Technical Analysis

The GBP/JPY pair found the 140 level to be overly resistive, so we pulled back. At this point, I believe a break above the 141 level is the next sign that we are going higher over the longer term. Either way, I don’t have any interest in shorting this market as we have seen such a massive moved to the upside. A break above the 141 level should send this market looking for the 143 handle. I believe that the 139 level below should be supportive as well. Either way, it’s going to be choppy