GBPJPY has been in super bullish trend with the formation of higher highs and higher lows. With this in effect, we can be sure of the market continuation as we do not see the trend changing anytime soon. That being said, we will wait for the support level to be tested and the market to be retraced at a level of 173.15 price point. This is the place, where we will go bullish on the pair.

There is no trendline indication other than that it would touch the trendline at the support level for the retest.

There is no retracement in place at the moment.

EMA 50 is still bullish and might tap the support level in confluence with the retest of the EMA 50 and the trendline.

RSI is at 69. It needs to neutralize itself at the 50 level in order for the market to continue moving up.

No end to the GBPJPY bullish sign

May 30 2023