GBPJPY surges up!

Good evening ladies and gentlemen

Half way through the trading week. I hope your profits have not dried up with the lack of sun! Come rain or shine, a mechanical approach is the name of the game!!

So to the GBPJPY and yesterday I asked where price could be heading to. Could we see a reversal back south or could the Bulls continue to outmuscle the Bears? And it is the latter that happened crashing through the more aggressove Fib Breather level and now sitting at the VI and S and R cluster, which I also mentioned yesterday.

On the Daily chart, altough we had a change in trend to the down side after the confluences metioned last monday, the long term trend is actually still up and so it is possible that the saying "The Trend Is Your Friend" could be holding true once again!

Below I have the 4 hour chart and we can see that the convergence, 123886 and the spinning top were the catalyst for the surge in price back in the direction of the trend. Now the question is can price break through the current cluster it is sitting at and move up wards and onwards? RSI is coming into the OB zone while Stochastics is already there with the signal lines looking interesting!

As always do your own analysis.

I will leave you with this thought from Jim Rohn who was Anthony Robbin's Mentor, "If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari