GBPJPY continues to trade within a steady ascending channel and has recently bounced from short-term support around 198.200. If price breaks above 199.400, bullish momentum could strengthen, targeting the previous high near 200.800 — a key resistance zone that has been rejected before.
From a fundamental perspective, expectations that the Bank of England will maintain high interest rates to combat inflation are supporting the pound. Meanwhile, investor sentiment remains cautious toward the yen following dovish signals from the Bank of Japan. If upcoming UK economic data is positive, GBPJPY may continue climbing in the sessions ahead.
From a fundamental perspective, expectations that the Bank of England will maintain high interest rates to combat inflation are supporting the pound. Meanwhile, investor sentiment remains cautious toward the yen following dovish signals from the Bank of Japan. If upcoming UK economic data is positive, GBPJPY may continue climbing in the sessions ahead.
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📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.