Stethostrade
Short

Temporary Pullback and Big Bull Ahead

OANDA:GBPJPY   British Pound / Japanese Yen
Price has just completed the first leg of the impulsive move last month and it hit all our TPs as expected.

Currently, it is in the corrective phase forming the right shoulder of the HNS pattern in the rectangle shape - entering the reversal phase.

I expect this pair will be making a temporary pullback to the Demand Zone before continuing the 2nd phase of Bullish momentum to the major 2019 and 2018 trendlines .

Yen and dollar seem to get weaker in the upcoming weeks.

Hence, this would be a great opportunity for LONG.

This is a long term idea.

Remarks; This setup is invalid if the price breaks the key level. 136.90

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