FX.co ★ GBP/JPY

As of today, the GBP/JPY currency pair continues to move within an ascending channel, which indicates that buyers still maintain control. After an attempt to stay below the 214.90 level, a pullback began. I expect that in the near future the price of the pair will move roughly within the 216.30–216.80 range. At the moment, the 216.30 level is the nearest resistance; if the price manages to break through this level, it may become one of the first signals that a move toward 216.80 is likely to begin, although a pullback may also occur. However, it is important to note that since the price is currently below this point, the priority direction remains bullish.