Davtyan
Long

GBPJPY - Buy at breakout

FX:GBPJPY   British Pound/Japanese Yen
Sunday analysis.

NOTE! The GBP/JPY             is clear bearish] trend. But there is a possiblity for a retracement to the .382 level because the following reasons.

1. Three white soldiers pattern is formed and closed on the weekly chart.
2. The . 382 retracement level of the A-B leg is at the extension of the blue A-B leg.
3. Red trendline falls exactly on the same level as the 2 set points.

NOTE: This trade can only be avaible if the previous resistance is broken.
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