GBPJPY 12PM 08/05/20

Here we are able to see that price is heading in the bullish direction - however I believe it will hit an area of resistance at the 132.268 level or 135.418 level if the area of minor resistance is broken. On the Daily chart the GBPJPY pair has been in a downtrend for the past few years, so I hope to see price retrace at one of these resistance points and head back down in the bearish direction towards the 125.592 level. I will be looking for entry patterns at these levels on the 1 hour chart.