GBP/JPY 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
GBP/JPY has not been willing neither to jump above nor decline below the two formidable lines that form a channel up pattern. The pair has recently peaked at more than a four-year high of 159.98 but did not manage to consolidate at this level; firstly it came off to the pattern's support zone and then appreciated slightly to trade at 158.61. The sentiment on the pair is bullish as 56.52% of the traders are expecting the British Pound to climb against its Asian counterpart. The traders' expectations may materialize given the overall bullishness of the pattern as well as technical indicators suggesting an advance in short and long runs.
© Dukascopy Bank SA
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