GBP/JPY Forecast September 7, 2017, Technical Analysis

The GBP/JPY pair initially went sideways during the session on Wednesday, and then spiked as the British pound has seen significant buying lately. We rallied enough to touch the 142.50 level, which is the beginning of the gap. That Should be resistive, so it looks like we could roll over from here. Alternately, if we break above the 143 level, the market could find itself going much higher. I believe that the next session or so is going to be very important in this market, and you should keep in mind that the pair tends to be very sensitive to risk appetite around the world. Markets are going higher, it typically will as well. Alternately, if stock markets start to fall apart, this pair will fall.

GBP/JPY  Video 07.9.17