GBPJPY Inverse Head And Shoulders and Potential Bat Pattern

Technicals:
Price closed above EMA50
Inverse Head And Shoulders Pattern became validated.
Potential Retest of the broken neckline is a buying opportunity.
Take Profit is as described in the chart.
Potential Breakout of TP1 could confirm TP2 and Potential Bearish Bat.
Invalidation of Inverse H&S is described.

Fundamentals:
Strong Yen as a safe haven however a technical correction in all JPY pairs is likely.
Oversold and cheap GBP.

Pay Attention:
Strong risk management is needed due to Brexit based volatility in GBP pairs.

Have a nice weekend!

Kommentera:

Kommentera:

The first target of I SHS pattern 129.850 - 130.000
I will update later.

Kommentera:

TP1 OK

Kommentera:

Update