GBP/JPY weekly chart, February 20, 2017

GBP/JPY forecast for the week of February 20, 2017, Technical Analysis

The GBP/JPY pair fell a bit during the week, testing the 140 handle. This is an area that should be rather supportive though, so I would not be surprised at all to see this market bounce. If it does, it will be looking towards the 145 level for a target. A breakdown below the bottom of the hammer from the previous week would be a selling opportunity, but I believe that the buyers are about to get aggressive. Given enough time, anticipate that this market will continue the uptrend and go much further.

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