There is a new opportunity on GBP/JPY. There are two different trade possibilities. One to the upside and the other to the downside. I am biased to the upside since we can see my trend determining indicator in a very bullish posture. But for the confirmation of the signal we need to first break the overhead resistance at 132.7. If that fails we still have a nice trade to the downside to be made with the target around 130.8
Comment:
We should also pay attention to the historical volatility percentile in the background of my indicator since the next expansion will likely produce a trending move.