Analysis: Flag Pattern | GBP\JPY

Flag Chart Pattern at the GBP\JPY currency pair - 60 pips size. Can also be interpreted as a Channel Chart Pattern - anyway the predicted movement is up. Price broke Resistance trendline at the last trading hours of Friday and performed a precise pullback to the trendline - closing at the Resistance trendline. We would expect a gap at the opening of trading, and by its direction we will decide the direction of market.

Trading
If price opens above channel - enter long with target calculated by channel size. If price opens below the channel we will discard this pattern as a trading opportunity.