GBP/JPY Bounce Off the POC Zone Might Happen Soon

The GBP/JPY is still bullish. The price is getting closer to the POC zone where we might find buyers.

134.85-135.10 is potentially good zone to place new long positions. 61.8 is adding to the confluence and its holding above the W H3 level. We should see a potential move up towards 163.00 zone today. However, a move above next week could push the pair even higher towards 136.89. It is important that the price stays above W L3 134.10 in order for bulls to further dominate.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.