The GBPJPY took a rapid up move on Friday and is now forming what looks to be a bull flag on the 15min charts
The flag pole is 400 pips long and IF we get a break out of the top of this flag price could move back into 140 during UK session tonight.
There is a 1-2-3 sell with a 38 % fe at 137.60. This is also just above the previous high obtained in the US session Friday. A breakout of this level opens targets 138.62 , 139.35 , and 140
For those of you trading the London session on Monday keep your eyes on how this chart pattern plays out.
Regards
Malcolm
