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 hold above the 218.40 level, a pullback began. I expect that in the near term the price of the pair will move roughly in the range from 218.40 to 218.10. At the moment, the 218.40 level is the nearest resistance; if the price manages to break above this level, it may become one of the first signals that a move toward 218.60 is likely to begin, although a pullback may also occur. However, it is important to note that the price is currently below this point, so the primary scenario remains bullish.