GBP/JPY Forecast September 15, 2017, Technical Analysis

The British pound went sideways initially during the day on Thursday, but exploded to the upside after the Bank of England suggested that interest rate hikes are coming. Because of this, I think that this market continues to be a “buy on the dips” scenario, and I have no interest in shorting this market. I believe longer-term, we will probably go running towards the 150 handle above. Selling is all but impossible, and I believe that the 145-level underneath will continue to be support in a market that enjoys quite a bit of bullish pressure.

GBP/JPY  Video 15.9.17