After completion of the Head and Shoulder pattern, the counter GBPJPY is experiencing a double bottom. A Double bottom is a strong chart pattern for a bullish trend. Today the counter broke out the peak price (136.00) of the double bottom and started moving upwards therefore long is more preferable for this counter.
It dropped till 132.023, for a long time yes it will go up but for few hours it will come back to its previous resistance then break through it till upside.