207,35. There is an horizontal range between 206,70 and 208,00. Support and resistance are given by Bollinger bands. GBP JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in Bollinger bands. If the resistance is broken then the target will be 209,00. We won't take a position. The risk/reward ratio is too high to take a position..
208,00 - 208,50
206,90 - 206,50