GBP/JPY 1H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having jumped above the 200-hour SMA, GBP/JPY commenced its upswing that has eventually led to a formation of the channel up pattern on November 20. The pair was following its bullish trend unremittingly, withstanding heavy selling pressure arising when the currency couple was hitting record highs. For example, GBP/JPY touched the highest mark since at least 2009 but has no intention to halt its rally; this view is also reinforced by the SWFX numbers showing that more than 60% of traders are bullish on the pair.
© Dukascopy Bank SA
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