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GBP/JPY Forecast September 12, 2017, Technical Analysis
Updated: Sep 12, 2017, 03:45 GMT+00:00
The British pound has broken out up against the Japanese yen, gapping higher at the open on Monday. However, we are starting to see a little bit of
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The British pound has broken out up against the Japanese yen, gapping higher at the open on Monday. However, we are starting to see a little bit of exhaustion in the GBP/USD pair, which should have a bit of a “knock on” effect in this market. With that being the case, if that pair drops, I think we will see this market pull back to try to fill the gap from the open. We obviously look bullish, and with that being the case I do prefer buying, but I also recognize that this pair tends to be highly influenced by the risk appetite of markets overall. The more risk-taking there is, the more likely we are to see the GBP/USD pair rally.
GBP/JPY Video 12.9.17
About the Author
Christopher LewisSenior Analyst
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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