GBPJPY: Symmetrical triangle

GBPJPY, Daily

In the Daily timeframe, GBPJPY formed a symmetrical triangle pattern. The price reached the upper trend line and just crossed MA50 and MA200, which is bullish. The Momentum rose above 100.0, although the %R shows overbought.

• If the price breaks the trend line above 195.700, it will go up to 199.500;

• A bounce off the trendline would take the price back to 192.000 and then to 189.000 to the lower trendline;