Technical analysis of GBP/JPY
GBP/USD: 'Thorn' pushed the pair higher
There's a 'Thorn' pattern, which pushed the pair higher, but the 34 Moving Average has acted as resistance, so the price is consolidating. In this case, it's likely that the pair is going to reach the previously tested support at 1.2910 - 1.2854. The subsequent pullback from this area could lead to an upward correction towards the nearest resistance at 1.2946 - 1.2957.
We've got a 'Bearish Trap', so the price moved higher. Meanwhile, we should watch the closest support at 1.2913 - 1.2889 as an intraday target. If a pullback from this area happens next, bulls will probably try to achieve another resistance at 1.2971 - 1.2999.
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.