No surprise, GBPJPY is trading in a bullish trend. However, after the price reached, 183.77 level at the end of June, the pair started to consolidate.
The market formed a cup and handle pattern on 4H time frame. Its neckline breakout will be a very strong trend-following signal. 4H candle close above 183.88 will confirm the breakout.
A bullish continuation will be expected to 184.5 level then.