The GBP/JPY has been performing at the top of the range since Sep 20. As long as W L3 holds, the bulls are in control.
147.55-65 is the POC zone and further bullish momentum is expected as long as the price holds above the zone. In the case of bullish continuation targets are 148.20 and 148.55. If the 4h candle loses its bullish momentum and makes a close below 147.15, we might see a trend change and bears dominating the battlefield.
Many green pips,
Nenad Kerkez aka Tarantula FX