GBPJPY: Soon We Should Take Action

Price is finding good support at the lower parallel of the upsloping blue pitchfork at the same time is finding good resistance at the sliding parallel of the green downsloping one. Watch closer for a breaout at either directions and wait for a correction.

I believe that price will break above as i expect the next impulse to the upside better seen in the chart below:

Kommentera:

Price broke below the sliding parallel, and most likely a correction is about to begin.