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GBP/JPY Consolidation Could Provide a Bullish Breakout

Nenad Kerkez

Dear Traders,

The price on the GBP/JPY is still bullish. The Consolidation within the running triangle should provide a breakout.

If the price breaks above 140.71 we should see a continuation towards 141.35 , 142.08 and 142.83 during the week. However, we need to see a 4h close above the W H4 camarilla pivot. At this point, the POC zone provides buying opportunities (139.50-140.00) but momentum is needed.

At this point it’s all about buying the dip and the price is still bullish.

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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