FX:GBPJPY British Pound/Japanese Yen
Daily Cup & handle published last week in play. Key support for further upside remains the lip line but I won’t be surprised if 187.30 serves as well. After all, it is previous resistance / now support and double bottom on 4H TF. Target remains 194.25.
If you look closely to my setup you can see that retrace is obvious . I do not trade pull backs or counter trend trades. RSI has no matter for me till I see divergence and because of divergence - you got bearish print which means pull back. Deeper - better, it will give me cheaper price to go long for my target. Daily chart pattern which is valid is bullish cup & handle.