GBP/JPY Forecast August 31, 2017, Technical Analysis

The GBP/JPY pair broke higher during the day on Wednesday, clearing the previous uptrend line that had been so resistive. Now that we have clear that area, I suspect that we are going to go much higher as the Japanese yen is being sold off in general. Ultimately, this is a market that should continue to see volatility, but if the markets around the world tend to rise in value, this pair will more than likely follow. I don’t have any interest in shorting, least not until we break down below the 141 handle. Expect choppiness, but this pair looks as if it wants to go higher.

GBP/JPY  Video 31.8.17