GBPJPY - 162.XX likely the lvl coming into play.

The surge or break out of the channel top ( completely obviated ) and the surge up has been rather angry.. Still feel move up is left possibly as close as to 113 handle ( 112.8X likely resis zone for now )...

Yes; I was viewing it to the lower side but definitely not against the break and not while GBPJPY taken out 156.70-8X point I wanted it to hold as well.
As said, the break on the USDJPY was an angrier one and the result was more or less expected as there was no retrace into this surge at all.
I will update on the USDJPY on org ideal plan..
Anyways here is something on the GBPJPY now..

GBPJPY - A simple layout - Around 162 we should start seeing some decent resis - GBP likely missing one leg higher to around 4500 handle extended to 4550-60 ( overall bigger lvl to watch is 1.4700 handle.

i.imgur.com/xPOqW5d.png
GBPJPY 8 hr- simple st forward chart...

Comment:

I'm actually raising the call on the GBPJPY higher to 162.60-9X ( for 25-26 April - Considering it makes 1 top and comes back aain to post minor new high - which I definitely would love it for it would indicate decent supply there..
When working with trendline analysis it is mainly the angles you are watching along with what type of channel it is depicting.
I have redone the GBPJPY charts and I find this 8 hr more appealing and if goes well then would expect retraces off 162.60-8X down to lower 159.XX .. Fuller down if coming should be back around to 155 or so ( depends when and if it is coming down to it )

i.imgur.com/WIf2MPg.png
GBPJPY 8 hr - Chart Redone

i.imgur.com/WyFCfne.png
GBPJPY 8 hr - Possible expected play off....

Comment:

Short term view..

With the gap opening lower the prospect have changed a bit and possibly can see some drag going higher indicating some more pullbacks to around 159.5X before likely buyers join in and take the price higher to and around 162.6X-8X.

i.imgur.com/P0DeTZO.png
GBPJPY 15 mins - Price currently flirting to it..

i.imgur.com/7XECbQ7.png
GBPJPY 30 mins - 161-0X resis and a close higher should get it bid..

Comment:

We holding and getting 2nd test with new minor new high done to it. This fails now; should be it for the fall to commence.
Again its' nothing more than playing into a pattern...

i.imgur.com/3WRCxFr.png
GBPJPY 8 hr -

i.imgur.com/U6ZzG7a.png
GBPJPY 30 mins - Initial break that can lead to believe a possible Temp Top is in and time for some gradual fallout on the pair..

Mainly would allow the pattern to take care of the rest...

Comment:

Well........... Now can say GAME SET & MATCH +++.
Spotting certain layouts hinting patterns usually plays out rather well..
This month is easily one of the best for us as we were able to recognize and execute a number of trade setups that went the whole distance and then some Plus...

Anyways ...... GBPJPY NOW...

i.imgur.com/EedNVGd.png
GJ 8 hr -

Comment:

i.imgur.com/90eli3h.png
GBPJPY 8 hr

Comment:

GBPJPY - UPDATE...

i.imgur.com/y5LqYtz.png
GJ 8 hr - Different Angle but liking the potential play out base on it
i.imgur.com/BxIC1Wy.png

Taking it bit further and 2 hr shows pattern with 155 holds to provoke bounce. which would mean USDJPY holds its supportive zone ( updated USDJP as well )

i.imgur.com/zzcn5B0.png
GBPJPY 2 hr - Potential HNS ... 151 zone possible neckline.. The tgt 140-141 zone.. Else Triple sliding bottoms and a lift off for 174-176 Different angles but pretty much same story telling on all of them.