204,95. GBP JPY broke 203,60 resistance. GBP JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are deviated. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP JPY. 4H ForexSto (Modified Stochastic) crosses and gives a positive signal. The price should consolidate. The price should find a resistance below 205,00. If the resistance is broken then the target will be 208,50 (350 pips). We won't take a position.
205,00 - 205,60
204,50 - 203,80