GBP finally ready to move up

FX:GBPJPY   British Pound / Japanese Yen
GBP/JPY finally broke above it's previous high with a strong bullish candle. the setup looks good for a long trade. the last two previous impulse moves all retraced to the 50% FIB. this swing should retrace to the 50%FIB then continue up to a weekly resistance. I like this setup because there is a small bounce off the 50 and 100 MA and a break of a weekly high. I would be careful with this so i would put a buy stop a couple of pips above breakout candle.


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