Technical Analysis - GBP/JPY ranging for breakout

The price is on bullish market condition with the ranging which was started in the middle of June this year. The price was stopped by 195.86 resistance level with the ascending triangle pattern which should be broken by the price for the bullish trend to be continuing.

W1 price is on primary bearish with secondary ranging market condition:

• Senkou Span line and Ichimoku cloud are located far below which makes the bearish reversal to be impossible in the coming week.
• Chinkou Span line is indicating the ranging condition to be continuing in the near future.
  
• The nearest resistance is 195.86.
  
• Nearest support level is 184.96.
• Reversal support level for the price to be crossed for the bearish reversal is 174.86.
  

If W1 price will break 195.86 resistance level on close bar so the primary bullish trend will be continuing.

If not so we may see the ranging within the levels.

TREND : ranging bullish