GBP/JPY Forecast September 6, 2017, Technical Analysis

The GBP/JPY pair fell initially during the session on Tuesday, but found enough support to turn around and show signs of life again. If we can close above the 142 level, I think that the market is probably going to go looking to fill the gap near the 143 handle. Alternately, if we break down to a fresh, new low, then I think we continue to drift lower and towards the 140 handle. Expect volatility, but it appears that the British pound is getting a significant bid. With this being the case, small position sizing is probably best.

GBP/JPY  Video 06.9.17