GBP/JPY Clear Uptrend Showed by Camarilla MTF

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Hi traders,

The GBP/JPY shows a clear uptrend with multiple bouncing spots signaled by Camarilla MTF. Both arrows and diamonds show confluence spots and successful rejections (automated).

Next bouncing spot could be a retest of the POC zone 141.00-141.30. However, if we don’t see a deeper retracement we can also watch for 142.20 bounce as a form of order block retest. Targets are 142.60 and 143.17. Momentum is still very positive so expect a continuation trade.
Only a drop below the projected ATR low 140.79 will initiate a neutral move in the pair, where a test of 140.38 is a big possibility in that case.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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