Thu, 04 Sep 2014 08:02:28 GMT
GBP/JPY 4H Chart: Broadening Raising Wedge
Since the currency pair found a strong support level around the 170.50 level on 15th of August it has formed a Broadening Raising Wedge pattern. Although, at the moment the pair is hovering near the lower boundary of the pattern and despite the 4H technicals being to the downside a bearish break-out seems unlikely. Moreover, the pair is supported by