GBPJPY is in an uptrend evidenced by highs and lows coming at higher and higher levels. As you can see in the H4 chart now we have correction of recent increases and the price again found itself on the support, which coincides with the 20-period SMA. Again reflection from the level of support could be an opportunity to take a long position, consistent with the prevailing upward trend.This scenario may occur if price will create a sequence of higher peaks – higher lows on the M30 chart, which will mean end of potential correction. But before that happens, likely is breaking the support and creation of lower low.


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