:: Daily ::
The GBP / JPY currency pair showed an obvious hummer candlestick at testing the support level 125.47 which is a historical low
this candlestick indicates upside movemet confirmed further
the upside movement was contained at the resistance level 139.75 which stopped the upside swing of the pair leading to correction forming a flag pattern
The support level 131.20 which is 50% fibonatcci of the last swing up held the price above preventing further decline
The 25 May's daily candle closed outside the upper limit of the flag indicating continuation of the upside movement technically .
Now the Price is retesting the backside of the broken channel
Based on the previous analysis :
There's a long opportunity at level 132.00 with 1st target at 134.70 and 2nd target at 135.60 .
SL should be placed slightly below 130.25 .
