GBP/JPY daily chart, December 13, 2016

GBP/JPY Forecast December 13, 2016, Technical Analysis

The GBP/JPY pair rallied a bit during the day on Monday as we continue to see bullish pressure. There is a lot in the way of noise just below, so I think there is plenty of support. I believe pullbacks continue to offer buying opportunities, as the Japanese yen is being sold off against almost everything in the world. While I’m not necessarily excited about the British pound, I recognize that this pair is simply doing the same thing that other yen related pairs are doing so therefore it makes quite a bit of sense that we continue to rise.