Unpacking binaries

lack of strings
search for JMP's or CALLs to registers or regions of memory. Also search for functions pushing arguments and an address direction and the calling retn, because the return of the function in that case may call the address just pushed to the stack before calling it.
Put a breakpoint on VirtualAlloc as this allocates space in memory where the program can write unpacked code.
Start analysing the packer from the bottom in IDA before moving up. Unpackers exit once the unpacked code exit so it's unlikely that the unpacker passes execution to the unpacked code at the start.
If the unpacked code gets executed use a tool such as PE-Sieve to dump the unpacked process once it has executed and unpacked itself
VirtualAlloc with the value "40" as an argument means Read+Write+Execute some code that needs execution is going to be copied here