After a long bullish trend GBPJPY went into a horizontal continuation pattern almost 3 months long. It broke the rectangle upwards showing a continuation of bullish trend. It went up almost exactly according to projection of horizontal box making the higher high. From there it took a dip to 0.618 FIB level taking support at monthly level S2. Now it is trading above S1 weekly support which is being honored by last two weekly candles. I have taken entry with a BUY stance above S1 at current level near expected higher low marked by a bullish hammer. Stop loss is placed below S2. My view is long term. Target is left open.