GBPJPY here bounced at a major supply/flip zone at around the 125 pychological zone.
From here, the downtrend began to exhaust, and from here we have not made any new lower lows. It seems like we will be making a higher low swing here. What we want to see here is a break and close this 131.35 zone.
Not only would we confirm a higher low swing in a new uptrend and break past the previous lower high nullifying the downtrend, we would also create a head and shoulders pattern which shows us a reversal transition.
From here, the downtrend began to exhaust, and from here we have not made any new lower lows. It seems like we will be making a higher low swing here. What we want to see here is a break and close this 131.35 zone.
Not only would we confirm a higher low swing in a new uptrend and break past the previous lower high nullifying the downtrend, we would also create a head and shoulders pattern which shows us a reversal transition.