BUY GBP/JPY

During the past few weeks GJ has shown a strong upward movement, which resulted in a bullish trend channel, during this trend GJ has been having high momentums on Long candles and also short bearish candles, which act as retracements, now GJ has been unable to break below the area of 153.500 for quite a long time, thus we have decided to treat this level as our support and looking forward to a reversal to the upsides when it reaches this level once again, here are the key points I looked at :

• Uptrend Channel
  
• Retracement
  
• Support and Resistance
  
• The RSI & MACD