GBP/JPY Remains Bullish

Despite all the signals for a move to the downside – namely a spinning top candlestick as well as a shooting star candlestick on the daily time-frame at 147.60, together with another shooting star candlestick at the same level on the weekly time-frame, GBP/JPY remains very bullish and continues rallying and even broke out above the last high at 147.60. The next target is obviously the previous high at 148.10. If GBP/JPY manages to break out above that level as well there could be a further move to the upside towards the resistance at 148.90, which coincides with the (MA)89 indicator on the weekly time-frame.