The GBP/JPY has broken through a flat bottom descending triangle that has been forming on H1 time frame. The triangle is classified as a running one due to lack of vortex at the top (the pinnacle). At this point the price is retracing towards the POC zone (W H3, D H3, order block, ATR pivot, 38.2) 143.20-40. If there are now moment sellers within the zone, the price could reject towards 142.00 and 141.65. Have in mind that UK banks will be closed today in observance of the Spring Bank Holiday, so the price might not get to it's full projected target if rejection from POC happens.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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