GBPJPY: Action plan ahead of the volatility.

The pair is trading on a 1D Channel Up (RSI = 56.222, MACD = 0.7000, Highs/Lows = 0.0000) that has just rebounded on the Higher Low. This aggressive bounce is not purely technical (Brexit fundamentals) so we expect high volatility until a trend prevails as long as the Higher Low is intact (support) the target is 149.780. If it breaks, then the pattern is negated and the correction should aim at 141.00 with 139.00 as the extension.






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