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GBP/JPY - inverse head and shoulder breakout

FX_IDC:GBPJPY   British Pound / Japanese Yen
So finally, we are witnessing an inverse head and shoulder breakout. I have been calling for the same for almost a month now. The first post was published 27 days before where I anticipated the completion of inverse head and shoulder by 15th May. However, I am off by around 10 days.

Traders should watch out for day end closing .. if above 162.22 then we have a confirmation of bullish break, which shall open doors for at least 200-pip move on the higher side.

Note. the hourly RSI is overbought and could possibly indicate a bearish divergence. So we may see a corrective move tomorrow despite confirmation of bullish break today. But the dips are likely to be bought into.
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