GBPJPY: Breakout Of Correction Opens Doors For Longs

Price broke above a long term downtrend something that makes us think we might have the end of the corrective structure it was moving in. It is now consolidating above the broken level and it might fall and retest that level in addition to the lower parallel of the median line. In RSI we may see a bullish divergence. At that zone we should watch for a buy setup based in our tested strategy.

Take some time and read my post on the importance to trade the markets based on a rules based strategy (links below)..!

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I am closing this trade with 80 pips profit as price is consolidating and it might head both directions. I was expecting it to rally from the buy zone in a more impulsive fast way something it doesn't seem to have happened. So in order to hope, i personally close my position.