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GBP/JPY is at a Crossroads

March 02, 2017 11:28

The GBP/JPY is standing at a crossroads there and we might see either a continuation down or a spike. The POC zone(H4, 50.0, trend line, ATR pivot) to watch for is 140.35-47, and the spike above 140.47 might target 140.95 and 141.14. in the case of rejection from POC, levels to watch for are 139.95 and 139.50. At this point this looks like a consolidation before possible breakout in either direction.

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