- Bullish divergence using RSI, implying momentum to the upside is starting to take control. - Found support at 1.4050 on 3 occasions (triple bottom) showing a possible reversal. - Broke through 50 EMA on the H4, taken out its dynamic resistance level. - Next resistance at 1.4380 and coincides with the 50.0 fibonacci level where price may struggle, whilst heading towards the 68.2 golden ratio. - Long awaited retracement for this pair after a series of bearish moves. - There is around 120 pips for this pair until it sees selling pressure start to dominate, approaching key resistance levels and until then GBP/JPY should fly. - 120 pips target with a 60 pips stop loss, 1:2 risk/reward.