GBPJPY Megaphone pattern & Weekly pinbar

GBPJPY formed a Megaphone pattern on daily chart, Price got support from lower trendline of the Megaphone and Horizontal support zone and surged up from there. Next resistance at 154.xx level.

GBPJPY megaphone

We can see a Pinbar formed on weekly chart rejecting horizontal support + Dynamic support level. We might see some retracement before it continue its trend.

 

GBPJPY pinbar