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  • S&P/TSX

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    -159.79 (-0.73%)
     

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    -61.59 (-1.20%)
     

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BREAKING:

INFLATION IN CANADA UP SLIGHTLY TO 2.9% IN MARCH

On a seasonally adjusted monthly basis, the CPI increased 0.3% last month, says StatCan

GBP/JPY Bullish Bounce Expected as Long as W L3 Camarilla Holds

Nenad Kerkez
Updated

Hi traders,

The GBP/JPY has formed a bullish zigzag. W L3 camarilla pivot along with a confluence of price action tools ( T-89, Engulfer, BB) suggest further upside.

POC zone 143.50-60 could initiate a bounce if the price retests it once more. If it doesn’t happen wait for a close above 144.15.  Continuation above 144.15 will provide possibility for a bounce towards 144.45, 144.70 and 144.95. Break below 144.30 might target 142.70 and will suggest a deeper retracement.

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

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Many green pips,
Nenad Kerkez aka Tarantula FX

This article was originally posted on FX Empire

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