Update on GBPJPY Possible long- All systems go!

1 Des 2016

Last week I stated that there could be a possible long setup n the GBPJPY weekly chart. As of today, this pair has succeeded in breaking through key levels of resistance to confirm a new Up-Trend. A sustained close above the 200 ema on the daily chart will boost bulls confidence even more. However, caution in leverage and lot size risk should be taken as there will be some profit taking at these levels. A pull back/retracement and or some consolidation is expected before trend resumption.