GBPJPY possible long opportunity

OANDA:GBPJPY   British Pound / Japanese Yen
Inverse head and shoulders patter forming at major structure level. Price is also currently is a downwards channel. Looking for price to break out of the channel to the upside and breaking past the neckline before entering. This would give multiple confirmations that price is likely to head further up. A more aggressive approach to this trading opportunity is to wait for more rejections of the current stucture level before going long. Let me know if you guys think otherwise or if my analysis is on point. Thankyou!