2012-High, bull run, momentum: Let’s begin in the weekly GBP/JPY chart, where price is seen rallying toward the 2012-high at 133.46. We are in the middle of a bull run that started from June’s low of 118.83. It has been rallying in an upwards channel, accelerating in November above the original channel resistance. The RSI shows bullish momentum developing as it kissed 70, then failed to clear 40, and is now back above 60. A price break above 133.50 with the weekly RSI kissing 70 would be an additional sign of bullish continuation, which opens up the 2011 high near the 140.00 handle. Deceleration: The 4H chart shows ... (full story)