The GBP/JPY Is bullish but low ATR – 70 and the general lack of price momentum is preventing the pair from a further push up.
Even the BOE event yesterday couldn’t move the GBP basket. It is the lack of momentum that prevents pairs from deciding about the next move. Consolidating at the tops, the GBP/JPY popular “Dragon” is trying to push to the upside. 139.80-130.05 is the POC zone. If the price proceeds up, targets are 140.32 and 140.55. The final target is 141.35 but for that to happen ,the volatility should significantly rise.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX