The GBP/JPY has reached the POC zone so we might see a bounce. Bounce is possible only if the pair makes a bullish reversal formation.
145.00-15 is the zone where the popular “Dragon” might bounce. We see a lot of confluence factors including HTF confirmation, ascending trend line, ATR pivot and D L3 camarilla. What is missing is a bullish reversal pattern. If we see it then the price might continue towards 145.75. However, today is the NFP with Unemployment Rate and Average Hourly Earnings data. This data release should provide needed volatility boost in the Forex markets where the GBP/JPY will be affected too. A drop below 144.45 will possibly target 144.00 and W L3 143.70 if the price gains a momentum and triggers stops below.
The analysis has been done with the CAMMACD.MTF template.
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