GBPJPY - Reversal? Continuation? Or Both?Great British Pound vs. Japanese YenFX:GBPJPYAkil_StokesOne of the opportunities I’m watching today is developing on the GBP/JPY and it’s a setup that could become very interesting if price gives us the confirmation we’re looking for. Right now, price action is potentially forming a Head & Shoulders pattern. And a violation of the neckline would give me interest in the short opportunity. What makes this particular neckline even more powerful is that if we look to the left, that same area has acted as both support and resistance multiple times. In other words, we're looking at what we call an Ice Zone, which is an area where previous resistance became support and previous support became resistance. So what's the trade idea? I'm not interested in simply jumping in because the Head & Shoulders pattern looks nice. My ideal scenario would be: 1️⃣ Neckline breaks 2️⃣ Price pulls back toward the broken level 3️⃣ The pullback gives us confirmation 4️⃣ Look for an opportunity to get short If that sequence plays out, the next logical area I'd be watching is the previous retracement low right above the 215.00 psychological level. If you're bullish on GBP/JPY, there may still be some upside opportunity available as well. If price can violate the resistance level that the head of the head and shoulders pattern created, then i do think that there is room for price to travel a bit higher up to the 218 psychological level. If you have any questions, comments or wat to share your ideas, please do so below. And I wish you a great week in the markets Akil