Last week I stated that there could be a possible long setup n the GBPJPY
weekly chart. As of today, this pair has succeeded in breaking through key levels of resistance to confirm a new Up-Trend. A sustained close above the 200 ema
on the daily chart
will boost bulls confidence even more. However, caution in leverage and lot size risk should be taken as there will be some profit taking at these levels. A pull back/retracement and or some consolidation is expected before trend resumption.