GBP/JPY 4H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The British Pound was on the rise against the Japanese Yen during dozens of months. The pair halted its advancement only early 2014 when it eventually approached more than a five-year high of 174.85. After that, the instrument has been trading flat and shaped a 177-bar long triangle pattern.
GBP/JPY now is on the verge of a breakout as it has almost reached the triangle's apex. Despite being below the 50-bar SMA at 172.33 that blocked the pair at the lower boundary of the formation, market players are optimistic-almost two-thirds of them hold long positions. This signifies that a forthcoming breakout may be bullish.
© Dukascopy Bank SA
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