04.07.201116:49 Forex Analysis & Reviews: GBP/JPY head and shoulders and Long opportunity July 4 , 2011

Long-term review

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As we see , there's apparent rejection of the Fibonacci level 61.8% to be broken.

Now it's expected to see a bullish move to come next.

4H chart , there's a broken bearish channel and successfuly retested.

Also there's a Head & Shoulder pattern with broken neck line targetting 131.30.

Based on the analysis:

There's an opportunity to go long at the live price with TP at 130.60 then 131.20.

SL should be placed below 128.20.

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