The GBPJPY has experienced a bullish breakout through resistance in an upward channel. The target is set at 193.41.

The trading arrangement was spotted on GBPJPY. On 11 Apr 2024 at 08AM, the GBPJPY price breached the resistance line of a Channel Up pattern. This could potentially indicate a bullish price movement towards 193.41 over the next day.

The pattern’s overall visual quality is moderate. The trading arrangement is distinctly visible, with minimal disturbance during the swings between support and resistance. However, the breakout through resistance was somewhat feeble. It’s likely advisable to await further verification of this breakout prior to initiating a position.