GBPJPY broke out of a descending last week, exposing the pair to further potential upside movement.
A retest of the may occur before price starts to increase.
On the 4H chart we can see price broke and closed below a short term ascending , opening up possibility for a short term decline in price.
Going into the week ahead we would like to sell the pair short-term upon a retest of the broken 4H & a 4H candle close.
We would then wait for price action signal when price reaches the reversal zone & find entries to long-term buy trades.
Be aware of any upcoming high impact economic news for GBP & JPY. Brexit speeches/news which may cause large spikes.
Updates will be posted as this trade plays out.