GBP/JPY Forecast August 15, 2017, Technical Analysis

GBP/JPY traders initially show that higher to the upside on Monday, but found enough resistance at the 142.75 level above to turn around and fall towards the 142 handle. Ultimately, this is a market that looks as if it is trying to find its footing, and if that’s the case, we could go much higher. I expect a lot of volatility, that’s the norm for this market, and of course it is very risk sensitive. Pay attention to stock markets, because if they rise it’s likely that this pair will as well. However, the exact opposite is true as the market tends to buy the Japanese yen when times are tough. Because of this, it’s likely that we will continue to see significant volatility.

GBP/JPY  Video 15.8.17