GBP/JPY daily chart, November 25, 2016

GBP/JPY Forecast November 25, 2016, Technical Analysis

The GBP/JPY pair broke higher at the open on Thursday and then continued to go well above the 141 handle. This is a very bullish market, and given enough time we should continue to break out to the upside. Ultimately, this is a market that I think will continue to offer buying opportunities again and again, and should now find quite a bit of support at the 140 handle. The Japanese yen is oversold at this point against most currencies around the world, so a pullback is very likely. I will use that the inner this market to the upside though.