GBP/JPY Forecast April 7, 2017, Technical Analysis

The British pound initially fell against the Japanese yen but turned around to form a supportive looking candle during the day on Thursday. We are still in a downtrend though, so it looks as if short-term rallies will probably be sold. There is a significant amount of resistance near the 140 handle, so that’s probably as far as we can go to the upside anytime soon. Eventually, this market will turn around but it seems to be a bit far from doing that right now. Because of this, I would be looking for short-term selling opportunities. - 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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