GBP/JPY Technical Analysis

[Jebatfx]

There are 2 wave count possibility for next week market. Is either Bullish Reversal or Bearish Continuation. After some consideration from my technical analysis, I still prefer for Bullish Reversal because :-


1) Upper Trendline already been taken (breakout).
2) Strong support at 210.18 (false breakout)
3) Some sort of inverted "Head & Shoulder" pattern can be seen (in blue rectangle)
4) BSTS signal more bias towards Bullish trend.
5) Confirmation upon major upper trendline breakout later (still has not been taken yet)


But there is also a strong potential for Bearish Continuation trend. So watch closely those critical line before making any decission. Just make sure before making any entry, there is a strong signal from BSTS for that particular trend. Good lucks.