GBPJPY: ABC Correction! Time To Buy Again

On the daily chart , the price created a strong impulsive wave.
Considering this we need to suppose that the correction should no be very deep.
Usually, it takes the shape of a "Bullish Flag" or a "Falling Wedge" pattern.
On the 4-hour chart, the price is creating a potential ABC correction wave.
The support area is located between 155.50 - 155.80. Here we need to see for the price to build bullish momentum.
The first resistance area should be at 159.96 and any breakout of the pattern should increase more the bullish momentum up to 159

Targets:
156.960
159.000

Thank you and Good Luck!

Trade chiuso: obiettivo raggiunto:

TP1 reached