GBP/JPY Forecast April 3, 2017, Technical Analysis

The GBP/JPY pair had a very volatile session as we crashed into the 140 handle. If we can break above the 141 level, I think that the market continues to go much higher. At that point, I believe that the market would reach towards the 145 handle. Pullbacks should continue to offer support based upon the impulsive candle that had formed on Thursday. Either way, I believe that selling is all but impossible soon, as I think the 50% Fibonacci retracement level will be a bit of a floor. Expect volatility either way.