Search ForexCrunch

GBP/JPY is looking north, having confirmed a falling channel breakout with a convincing move above 142.50.  

4-hour chart

  • As seen in the line chart above, the pair has found acceptance above the upper edge of the falling channel.  
  • The breakout indicates the pullback from the Jan. 25 high of 144.84 has ended and the bulls have likely regained control.  
  • It also validates the bullish view put forward by the long-tailed doji candle of last Thursday.  
  • The pair could rise above 143.00 in the next 24 hours. The bullish view would be aborted if the pair finds acceptance below 142.50.  

Trend: Bullish