Looking at a simple trend-line drawn in the chart. It can be seen that the chart is respecting it. With a uptrend forming with new higher highs and higher lows, a potential long position could be ideal in this scenario. In relation to my previous post of GBPJPY break-out, this could be a follow up factor.
Trade closed: target reached:
If you guys took a long position and held it over the past day. You would have reached profits of over 170-200 pips. This long analysis at the trendline is a successful call.