GBPJPY Continues Upward Post-Consolidation: Key Points to Note

After a period of consolidation, GBPJPY has broken through the 186.14 resistance level and kept its bullish position from the 178.72 level.

As it currently stands, GBPJPY remains inside the ascending price channel on the 4-hour chart. If it continues to confront the boundaries of this channel, we can expect the upward move to persist, with the next target set around the 187.30 zone.

The immediate support rests at the bottom of the price channel, presently at 185.10. Moreover, the pivotal support level lurks at 184.46. A break below these significant points might signal the end of the uptrend journey.