GBPJPY is in an interesting position as we have had a Head and shoulders formation, we have since broken the neckline and we are now in theory retesting this level, now we have a risk of the neckline snapping, in this instance expect a flush to occur, if we see bullish momentum from here, we are likely going to go test the nearest major resistance at 195. Now with GJ being a carry trade, we also get positive swaps on our positioning! added bonus.
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Looking good now
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Lovely break of the highs
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Short sellers now cleared, if you are late to the party look for some weakness
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Soon the potential for a swing low is increasing, this is when you wanna load for 195, it will occur on 4H timeframe
