GBP/JPY looks set to test 141.56 (23.6% fib R)
A convincing break above the descending trend line and a move higher to 140.00 levels on Apr 18 followed by a base building around 139.00 levels coupled with a bullish RSI suggests potential for a rally to 141.565 (23.6% fib retracement of 195.88-124.79).
On the downside, only a move back inside the falling trend line would signal bullish invalidation.
On the downside, only a move back inside the falling trend line would signal bullish invalidation.
