I haven’t discussed GBPJPY for some time. One reason for my silence is that the pair has been sideways since 2016. We’ve caught a few decent trades since then, but ultimately, GBPJPY has lacked momentum. That said, the yen cross is breaking out of consolidation this week. In fact, last week closed above a key trend line near 142.50, and this week’s action is a continuation of that breakout. The monthly chart above shows a triangle/wedge pattern within a larger structure that dates back to 2007. Notice how GBPJPY is starting to break out from the smaller pattern. If the larger structure from 2007 remains intact, and I ... (full story)