GBP/JPY 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The British Pound started its downside trend after it touched a one-month high against the Japanese Yen early April. The downswing has been developing in the 149-bar long bearish tunnel that pushed GBP/JPY to a three-week low of 169.50 a couple of days earlier. Since then, the pair has been appreciating and now it is trading just below the channel's upper limit. Given that almost two thirds of market players are bullish on the pair, we may expect the instrument to attain the pattern's resistance in the hours to come.
© Dukascopy Bank SA
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