GBP/JPY Forecast April 5, 2017, Technical Analysis

The GBP/JPY pair initially fell during the day on Tuesday but found support at the 50% Fibonacci retracement level to bounce significantly. Because of this, we may get a little bit of follow-through but I think that the 140 level above should offer resistance. If we can break above the 141 handle, then the market should continue to go much higher. Alternately, if we break down below the 137 handle, the market will probably drift down to 135. Either way, it’s going to be choppy as there are a lot of headlines around the British pound lately. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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