Forex

GBP/JPY Might be Targeting 148.50 if Momentum Persists

October 30, 2017

2 min read

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GBP/JPY Might be Targeting 148.50 if Momentum Persists

The GBP/JPY has been dropping from 151.40 zone and at this point, we can see it below both Weekly and Daily H3 camarilla levels. If the bearish momentum persists and if the pair stays capped below 149.90 we might see further bearish pressure.

The Dragon, always popular GBP/JPY shows a confluence within 149.75-90 zone ( W H3, D H3, EMA89, Fib 38.2, atr pivot) but also it shows a possible rejection from 149.50. If the price drops below the trend line we might expect a continuation towards 148.90 and 148.50. The pair’s ATR projection low is 148.50 that corresponds to W L3 level.

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