GBP/JPY 1H Chart: Channel Down

Despite the recent increase in volatility pair has been developing rather well in the ranks of the pattern. Pattern's quality is above the average. On the other hand, recent volatile period significantly increases the chances that pair will gain momentum once pattern's boundaries will be breached. However, breach of the boundaries does not seem to be coming soon as technical indicators do not provide any support for that. We should see it rebounding from the pattern's resistance and only then, if the Stochastic indicator on the daily chart gives accurate result, the pair might start appreciating.