GBP/JPY 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The British Pound has been rallying against the Japanese Yen since mid-October; the pair performed its advance within the corridor of two upward sloping and gradually converging lines. Recently the pair increased the pace of its appreciation thus breaking through the upper limit of the pattern to hit the highest level since at least 2009. Meanwhile, the climb that resulted in the breakout seems to be rather short and we are likely to see its continuation before long, especially taking into account that almost 65% of market participants are bullish on the pair.
© Dukascopy Bank SA
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