As shown in the accompanying Daily chart of GBPJPY we see Inside Bar formation. Breaking out from Inside Bar in any direction gives opportunity for a sizeable move.
Looking on chart to the left at that what has happened in the last week, we see 5 bullish candles and only one bearish. The probability of bullish breakout is bigger than a bearish one.
Its worth considering going Long after a breakout and retest of the upper limit of the IBar 142.19 or in case a bearish option would occur go Short after retest of the bottom of IBar as a resistance at 140.36
