The recent fundamental surge of the British Pound can be most noticeably seen on the GBP/JPY currency exchange rate charts. The reason for that is the fact that, while the Pound was surging due to monetary policy clues, the Japanese Yen was losing its safe haven status due to turmoil in the Korean peninsula.
However, the surge might be over, as the pair has reached the upper trend line of a speculated medium term ascending channel pattern, which recently broke through the upper trend line of a dominant, previously active pattern. The speculated ascending pattern was drawn in one of the updates of the previously published active trading idea.
It is still to be seen whether the pair passes the resistance of the medium pattern and surges above the 153.50 mark or declines back down to the 150.30 level.
However, the surge might be over, as the pair has reached the upper trend line of a speculated medium term ascending channel pattern, which recently broke through the upper trend line of a dominant, previously active pattern. The speculated ascending pattern was drawn in one of the updates of the previously published active trading idea.
It is still to be seen whether the pair passes the resistance of the medium pattern and surges above the 153.50 mark or declines back down to the 150.30 level.
