The GBP/JPY, so popular “Dragon” has been making obvious trend line breaks above the ascending trend line. This signifies both retracement-continuation pattern in uptrend (a for of zig-zag pattern). 147.05-40 is the POC zone and we could see another rejection should the price retrace again. A strong 1h momentum candle or 4h close above 148.11 should target 149.15. Have in mind that 149.15 is a weekly target and the final weekly resistance. If the price gets there before the end of the week, we might see even stronger uptrend.
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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