Looking for a trend change in gbpjpy in coming months, we saw previous highs of 143262 which have recently been broken indicating the likelihood of a bullish direction. A close below 126494 will warn of possible decline.
Weekly the last significant high was 145195, we have been generally trading up for the past 8 weeks. The market remains strong at this time, momentum below market on our model implying there is more upside to come.
Overhead key resistance for a bull market stands at 222820. If broken the gates for previous major highs back in 1980 at 569550 will be open.