It'll be more clear if you look at your chart in D1 TM.
I've spotted raising wedge which is reversal pattern and the H&S pattern still seems to be valid, the new bearish impulsive moves started this is why the current trend up seems to be counter trend.
to sell the market wait for the break of the falling wedge and the correction channel.
Overall, GBP/JPY is ranging across. Recently, GBP/JPY bounced off the support zone of 156.000.
The UK employment data released yesterday indicated continued decline in the number of people claiming for unemployment benefits in February. Meanwhile, average earnings rose while unemployment rate remained unchanged.
Average Earnings Index 3m/y (Actual: 4.3%,...
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Overall, GBP/JPY is trending upwards. Recently, GBP/JPY broke above the key level of 157.
GBP/JPY’s next support zone is at 156.000 and the next resistance zone is at 158.000.
Look for short-term buying opportunities of GBP/JPY.
Overall, GBP/JPY is trending upwards. Recently, GBP/JPY trended into the resistance zone of 156.000.
UK banks will be closed today in observance of New Year’s Day. Expect lower trading volume and volatility during the usual UK market hours.
Currently, GBP/JPY is testing the resistance zone of 156.000 and the next support zone is at 151.800.
Look for buying...