in my trading I also watch some currency pairs and a very nice opportunity came up on FX:GBPJPY.
In March we could see a rejection at a very strong support and since then a 1-2-3 pattern developed on the weekly chart. This is actually a textbook example of this pattern. Take a look :-)
1-2-3 - at a strong support - edge of the value area - false breakout and rejection of lower prices
Also we have enough space to put the profit target at the Point of control which is an area likely to be tested.
@transparent-fx, hi, thank you for the comment and your analysis. Really seems you know what you are doing. As for me I usually don't plan my trades like this, I am going to wait for the market to show me some reaction and based on what happens I adjust my position. :-)