GBP/JPY Forecast April 27, 2017, Technical Analysis

The British pound has broken above the 143 level against the Japanese yen as we continue to shoot straight up in the air. This is one of my favorite markets now, and I believe that short-term pullbacks will continue to offer buying opportunities. Currently, I’m targeting the 145 area, as it is a significant amount of resistance. I believe that the market has broken out to the upside for a longer-term move, so I have no interest in shorting whatsoever. One of my most favorite currencies in the world right now is the British pound.