GBP/JPY Potential Breakout of W Bullish Pattern

2 min read
tarantula fx

tarantula fx

Head of Trading

The GBP/JPY has bounced from support and it is getting close to W H3 level. Pay attention to W H3 – 148.51 as the price could make a breakout or reject from the level

In the case if rejection price might possibly retrace to W H1 and W Cm pivot points. However the break of 148.51 targets 148.80-95 zone and short term traders could use the zone to short into it and make some profits. However the break above 149.00 will target 149.45-55 zone and this is another good place to short into the rally. Targets are 148.51 and 147.80 in the case of bearish momentum.

Good trading,
Nenad Kerkez aka Tarantula FX

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