GBP/JPY Bullish Short Term
Updated
Hey traders!
Yesterday the pair broke a major H1 resistance arround 150.000 and 150.100, forming what I see as a bullish channel. If we apply fibbonacci to the impulse that broker the resistance, we can see how the broken resistance becomes a 61.8% fibo level, which is a really interesting level. So what i expect is the price to retest the broken resistance (now as a support & 61.8% fibo) and bounce from there to the next resistance level arround 151.500 151.600.
It's quite a big move (almost 120 pips) so maybe we see it between today and tomorrow.
Good Trading Traders!
Yesterday the pair broke a major H1 resistance arround 150.000 and 150.100, forming what I see as a bullish channel. If we apply fibbonacci to the impulse that broker the resistance, we can see how the broken resistance becomes a 61.8% fibo level, which is a really interesting level. So what i expect is the price to retest the broken resistance (now as a support & 61.8% fibo) and bounce from there to the next resistance level arround 151.500 151.600.
It's quite a big move (almost 120 pips) so maybe we see it between today and tomorrow.
Good Trading Traders!
Note
Major H1 support beeing tested. A good buy zone would be at the M15 resistance break out.Note
Support & trend line beeing tested again.Note
Support & Trend line broked. Trade not valid. Completely a different scenario. 
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