GBP/JPY Daily Chart
GBP/JPY is bullish on the daily chart. The moving averages are getting closer to crossing to confirm the reversal upwards. The new trend line that has formed along with my ABCD pattern formed within an Andrew's Pitchfork help give me a confluence of indicators that the currency is now trending upwards. The Fibonacci retracement helps to create support lines for the trending price to test as it moved upwards. Currently the price looks to be pushing towards 152.85 where it will encounter strong resistance to test at. The pair makes volatile moves so traders on the currency will have to stomach extra volatility and trust analysis.
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