Technical analysis of GBP/JPY
EUR/USD: 'High Wave' pattern
There's a 'High Wave' pattern, so we could have a local downward correction in the short term. Meanwhile, if a pullback from the Moving Averages happens afterwards, we're likely going to have another upward price movement.
The 144 Moving Average has acted as support, so there's a new local high. It's likely that the pair is going to rise in the coming hours, but if any bearish pattern forms little later on, there'll be time for a downward correction.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.