GBP/JPY Forecast April 25, 2017, Technical Analysis

The GBP/JPY pair gapped to the upside on Monday, and then spent the rest of the day falling back towards the gap. The 140 level has now been broken significantly, as the 141 level has as well. Given enough time, I expect to see a supportive action and a buying opportunity in this market as we have broken out and it shows that there is real underlying strength in this market now that the French elections have shown a proclivity to reach towards the centrist position. I have no interest in selling until we break below the 139 handle.

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