GBPJPY analysis - on the larger perspective

The following comment from an anonymous reader on my "bye, bye... bulls" post prompts me to re-evaluate the larger perspective on the beast's future possible direction.

Good job!
I want to know why the beast go south since it has up break the triangle about two weeks ago you mentioned.
Should it go down 600 pips, I think those long term traders who buy at the breakout of the triangle and set the target at 150.00+ would be stopped out at 132.50.What a pity! That is unreasonable! How to explain it?

This chart below might throw some lights on the "conflicting" chart patterns analysis.

It seems that the price is making a "throwback" move toward the red trendline at 129.50 area before turning upwards again. In case this happens, both the triangle (to me, it is an inverse head and shoulder) and the double top patterns are still valid.

I am not an expert and is still in learning curve. I might be right and I might be wrong too.


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