GBPJPY upside continuation
GBPJPY is breaking above 142.7 resistance. A confirmed break above 142.70 is required for an upside continuation higher. A rejection here and a break below 142 could lead to a deeper pullback to 140. The overall medium-term is an uptrend but we need this break above 142.70 confirmed for a high probability upside continuation. As long as the GBPJPY is above 142 there is a high probability that it will have an upside extension targeting 150.
Note – We are inclined to long trade entries with the stop loss below 142.50.
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