DislikedHi Blue
GBP/JPY daily PB doesnt look bad at all imo. There is BUOB on weekly chart and the high of pb is at 131 RN. There is some traffic to the upside but 131 could be a good flip area for price and with good trade management you could get the breakeven point just under the 131. If BOJ would intervene in near future it could workout very well. Just be carefull and keep an eye on the g7 , imf meeting this weekend.
Cheers and have a nice weekendIgnored
If I look at PB on its own, it does not stand out. However if I look at this in relation to big BUOB (Technically not a BUOB but a big bullish bar) of 09/15, it does make lot of sense to me.
As Jarroo always says- BUOB/BEOB's retrace before it moves in the direction of the PA. Here the PB at 130 looks like supporting the big BUOB.
Jarroo, would like to hear your thoughts ..