GBP/JPY Forecast August 30, 2017, Technical Analysis

The British pound fell against the Japanese yen rather significantly at the open on Tuesday, testing the 140 handle. However, we did stabilize a bit later, and now I think that we could find ourselves going sideways as we wait to hear what the overall risk appetite of markets is going to be. This may have more or less been a reaction to the North Korean missile, but at the end of the day there is an uptrend line that we have broken through to the downside recently, which is near the 141.50 level. Ultimately, if we break down below the 140 handle, the market should go much lower, as that would be a breach of significant support.

GBP/JPY  Video 30.8.17