GBP/JPY daily chart, December 12, 2016

GBP/JPY Forecast December 12, 2016, Technical Analysis

The GBP/JPY pair rally during the course of the day on Friday, as we continue to reach towards the 145 handle. If we can break above there, the market should continue to go higher. I believe that pullbacks have a good chance of finding support at the 140 handle below. I think given enough time, pullbacks will represent value the people would  liked to see in order to go higher. I think that the market would then reach towards the 150 handle above, and that of course is my target. I have no interest whatsoever in selling.