RLinda ! GBPJPY-> Bullish triangle after trend line break

GBPJPY presumably finishes its correction in the 163.2 zone and forms three consecutive daily bullish candlesticks. The global trend remains bullish and the move after the technical correction might continue

(Chart 1. Daily timeframe. Technical analysis)

On the daily chart we see a false-break-down of the 165.16 zone and rise to 166.2.

• The price is supported by the daily moving averages.
  
• Daily RSI is in a neutral line.
  
• Daily MACD: the signal lines are above the neutral line, indicating a bullish mood, whereas the red histogram is starting to turn around and is giving us weak signals for a change of market strength.
  

On the hourly chart, price is breaking through price channel resistance upwards and at the same time we see an upward triangle forming. Price is accumulating energy at resistance 166.25 for the anticipated breakout. I expect an upward price entry in the form of a bullish impulse. Short-term target - resistance 167.39, medium-term target - resistance 169.09

Regards to R. Linda!