GBP/JPY Momentum Shifting To The Upside Direction

TOP DOWN ANALYSIS

WEEKLY TIMEFRAME
1. EMA pointing upward and below price action indicating uptrend
2. Break of previous high and we could see price retrace to test the broken resistance as support around 135.000 pyschological level
3 .Market structure indicated its uptrend cause of break of structure , so shift of momentum is now uptrend


DAILY TIMEFRAME
1. EMA point upward indicating still upward trend
2. Price is rejection the 200 EMA which acts as dynamic resistance
3.Price respect the 50% fib level retracement around 129.900 so our extension projection will be to -0.27 of the daily high and low which is around 138.600
4. We can see high momentum to the upside and possible continuation after retest

H4 TIMEFRAME

1.we saw break of structure and price continuing to upside , we could see a price retrace around 50% fib level which is around 134.500. or just retest the previous high
2. EMA crossover to upside with highg momentum
3. invested head and shoulder pattern


H1 TIMEFRAME

1. EMA crossover to upside
2. Trend indicate it is super bullish to the upside and lets wait for weakness of buyer for a pullback before entrying at test of previous high which is aligned with the 38.6 fib level. or a test of trendline which respect the 50 to 61.8 fib level

TARGET
I am looking for target around 139.300 for long oppupunity based on the daily structure, which also align with the h1 fib extention