Hey everybody, I just wanted to share this idea before we head into the weekend.
GBP/JPY has been trading up off the 200MA for a while now and it doesn't look like there is going to be a reversal anytime soon. We have a few tasty support/resistance levels in combination with what seems to be a bullish bat pattern. For this pattern to complete though it'll have to break the MA ánd a few strong levels.
My guess is as long as the support at 175,316-ish holds, we might get a strong bolt upwards. Let me know what you think.