GBP/JPY Bounce is Expected at Any of the Two POC Zones

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The GBP/JPY has formed two POC zones as the price is still technically bullish. Bounce is expected at any of the zones.

137.37-137.68 is the first confluence zone. It is also where the confluence of order block is. A bullish order block gives additional strength to the zone. However, if the price drops lower, below the first POC zone then watch for 136.50-136.93 POC2 where additional confirmation is supported by W L3/ D L5 camarilla pivot. Targets for the bounce are 138.34 followed by 138.67 and 139.22.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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