GBPJPY is ready to pave the way to new highs

GBPJPY made a rally yesterday and rejected the daily high yesterday at 152.91. However, there is no confirmation for a bearish market yet with market making higher lows. 4hr cycle is turning up and gbpjpy is still on an uptrend on the daily. TP1 is established on the current high, TP2 at 153.5. Expecting the dragon to continue it upward trend unless 150.5 is broken.

Note that pound has been really volatile so keep you positions light.

Kindly note: Stochastic is used by me as a timing indication to enter and exit the market. Not as a signal to buy or sell.