GBP/JPY Higher Lows in Progress as the Price is Slightly Bullish

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The GBP/JPY has formed a bullish pattern configuration and we might expect a breakout above the previous high.

The POC zone 153.60-70 might spike the price up as it is a POC zone. We can also post a trend line which is adding to the confluence. If we see a bounce that the next target is 154.40 followed by 154.80. If the price breaks 153.40 to the downside then bears will be stronger and the next target is 152.76 followed by 152.34.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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