Global Equities were given a boost the past few days, which has been bullish for the GJ pair. Japanese data has been solid the past week, and its major trading partner in China has posted strong data for the week. Whereas, US data has largely been meeting expectations. At this point we can spot 2 POC zones where the price could reject as the pair is making a technical zig-zag pattern. POC1 (D H3, 23.6, EMA89, ATR pivot) comes within 146.65-80 zone. POC1 rejection should be a sign of a strong trend due to technical confluence it makes within the POC itself. If it rejects from this zone the pair should target 147.80 where the doors for 148.50 might be open next week. Deeper retracement targets 145.55-75 zone (D L4, trend line, ATR low, W L4) and rejection from this zone targets 146.80 and 147.80 if the pair makes 4h close above the level.
