Buy Technical Setup.

GBPJPYiH4

We had great reversal patterns the past few weeks which were traded accordingly on this chart. With the general technical sentiment being bullish, we might see price continue to move up higher. Should price break the top of the descending channel, which will then confirm the continuation pattern (Bullish flag), then start looking for buying opportunities at support.

GBPJPYiDaily

Price has been range bound the last two quarters, between 147.500 and 139.00. We saw price breaking the top of the range and retesting the role reversal at 147.00, which lies within a bull buy area, M PP-MM2.

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