GBP/JPY Price Forecast August 24, 2017, Technical Analysis

The GBP/JPY pair fell significantly during the day on Wednesday, slicing through the important 140 handle. It now looks as if we are trying to bounce back towards that level, but we have made a “lower low”, and that being the case it’s likely that we will see some sellers near the 140 handle. The market looks likely to go much lower, perhaps the 135 level if this bearish pressure continues, and I have no interest in buying this market until we break above the 141 handle above. Breaking below the uptrend line several sessions ago was a very negative sign.

GBP/JPY  Video 24.8.17