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GBP/JPY New Swing High is Forming Aiming for 142.10

Nenad Kerkez

Dear Traders,

The GBP/JPY has expectedly risen above the POC zone and we can see a realignment candle (encircled arrow) suggesting another swing high.

The POC zone stands around 140.00-20  with a potential for a bounce higher. The price is supported above W L3 camarilla pivot and as long as it holds above, bulls will be dominating. Targets are 141.50 and 142.20. Have in mind that the price is also a bit extended to the upside ( Wizz 6-7), so at this point I don’t see it above 142.10 zone. The pair is subject to headline risk re Brexit so any mention of Brexit could spike the price violently in any direction.

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

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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