Will GBPJPY Drift into the Ascending Channel?

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The market continues to move within the yellow channel. During the previous trading weeks, we saw a long flat, which lasted from the top to the bottom of the yellow channel. Now the market is exactly on the lower yellow bound.

If in the near future the bulls will be able to break through the resistance level of 141.94, which is on the upper green bound, the price growth may continue in the future to the upper yellow bound and resistance of 152.40.

However, if the price goes below the yellow wall, at the level of which the market is just now, the upward scenario will be questioned. And if the support of 139.41 breaks, the bearish scenario will be completely canceled.


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