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GBP/JPY forecast for the week of April 24, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Apr 22, 2017, 04:28 UTC

The GBP/JPY pair rallied during the week, slamming into the 140 handle. If we can break above the 141 level, I think that this market goes much higher.

GBP/JPY weekly chart, April 24, 2017

The GBP/JPY pair rallied during the week, slamming into the 140 handle. If we can break above the 141 level, I think that this market goes much higher. Pullbacks should be buying opportunities unless we can break down below the low of the week. Ultimately, I believe that this market should continue to find buyers as a British pound itself has strengthened so much. Remember that this pair is highly sensitive to risk appetite, so you will have to pay attention to stock markets as well. Ultimately, I think the real prize is somewhere near the 150 handle.

GBP/JPY  Video 24.4.17

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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