GBP/JPY Forecast April 26, 2017, Technical Analysis

The GBP/JPY pair initially fell on Tuesday but found enough support at the 140 level to turn things around and form a massive green candle. I believe that the market is going to try to break out to the upside even further, perhaps reaching as high as the 145 handle. The 140 level should now be the “floor” in this market, so having said that I feel that we are entering a longer-term uptrend now. The British pound has broken out everywhere, so this pair of course isn’t going to be any different longer term.