GBP/JPY Bullish Trend Might Come To A Halt Soon

The GBP/JPY is bullish but it is coming close to a resistance. 149.80-150.00 will be a hard nut to crack.

In the POC zone, we can see a lot of confluence. D H5, W H4 camarilla levels along with historical sellers and 78.6-88.6 fib pose a threat to bulls. I expect rejections in the zone. Targets are 149.40, 149.04, and 148.50. GBP/JPY is bullish but retracement should come soon as the Yen should also get stronger.

(Click on image to enlarge)


Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.