GBPJPY Technical Analysis 03.02.2022 1h chart

– We have Interest Rates coming up for the GBP and Forecast to increase to 0.50% from 0.25% from the last review (December 2021), there are trades that could be taken within the No Trade Zone but a much Higher probability would be below 154.850 (For Sells) the break of the previous Daily Low and same thing for buys to wait for confirmation above the previous Daily High.
Other reason the No Trade Zone was much Larger is to allow price enough room to consolidate prior to big Upcoming News Event regarding the Interest Rates review for the Pound Sterling. We also have Monthly Resistance at 155.750 possible rejection before continuation as price react to HTF Zones.