Looking at the 4-hour candlestick on GBPJPY. Price formed a falling wedge and broke above the resistance early this morning GMT+1. That's a signal for a change in trend from the downside to the upside. Looking at the 100,200 and 50 EMA. The price I well above and confirms the bull sentiment. The first hurdle will be around the 154.667 prices, that's Wednesday's high but if the price breaks above, the target will be 155.739, very close to the monthly resistance and monthly 200 EMA at 156.193. RSI is currently at 63.34 on 4 & 1 HR and 54 on the Daily. Overall, still bullish on this trade for today and the coming week. Ensure to put appropriate stop loss to accommodate for price fluctuations. Please follow to see more of my setups, they are often accurate lol, Thanks. Have a lovely trading day.
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