Forex

GBP/JPY POC Zone is 148.25-50

October 9, 2017

1 min read

tarantula fx

Head of Trading

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The GBP/JPY has spiked above the PPR (polynomial progressive channel) and it is trying to reach the POC zone 148.25-50. However, the first resistance is 147.85 and it needs to break the resistance in order to reach the POC zone.

As long as the pair is above the PPR channel we could see a retracement. IF the POC zone (50.0, D H4, EMA89, ATR top) rejects the price targets will be 147.85 and 147.10. Only below 147.05 the pair will regain full bearish momentum possibly accelerating towards 146.53. Have in mind that 147.85 is interim resistance and it might provide a short-term scalping opportunities towards the short side of the market.

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