GBPJPY - A significantly large bullish candle broke out from our long term consolidation of this pair. I would expect a pullback towards to top highlighted area now to retest previous resistance which would now be acting as support. If we get this pullback I would look to go down to the smaller timeframes to look for an entry to go long
You can see over the year we have been trading between the two main support and resistance. From price action you can see this market is starting to lose momentum trying to break through the resistance barrier. Bearish candle sticks and short term 2 hourly trend line has been broken. Think its time the pound dropped! let me know what you think!