GBPJPY is displaying a bullish continuation pattern, currently consolidating within a symmetrical triangle or ascending triangle formation following a strong impulsive move to the upside. The pair has been compressing below the 196.00 resistance zone, which marks the previous high of the recent rally. Traders should watch for bullish confirmation patterns or volume spikes on the breakout for entry signals.
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Price did not show a strong breakout, Instead we have seen a fake-out 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.