GBPJPY - Technical Analysis: Monday, 11/05/2015 05:33 GMT

The price return to the main bullish channel after some temporary bearish correction, and 61.8% Fibonacci level formed strong support barrier against the price negative attempts.

The price bullish rebound pushed trading to breach the minor bearish channel’s resistance, followed by completing a continuation bullish flag pattern that supports resuming the main bullish trend again.

The exponential moving averages 50 and 100 support the expected bullish wave, and stochastic offers positive overlapping signal now that supports the waited rise.