GBPJPY: How to Catch a Bullish Wave 🇬🇧🇯🇵
Updated
GBPJPY is trading in a bullish trend for more than a year.
The price is steadily growing within a major rising parallel channel on a weekly time frame.
Reaching 158.0 level the market started a correctional movement.
The price started to fall within a falling wedge pattern.
Being closer and closer to a support of a major channel the market may start growing soon.
Your confirmation to buy will be a bullish breakout of resistance of the wedge on 4H.
You need at least 4H candle close to confirm the breakout.
Initial goal will be 155.9
In case of a bearish breakout of a support of a weekly channel,
the setup will be invalid and bearish continuation will be expected.
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