GBPJPY has broken upward from a multi-test demand zone near the 195.00–195.50 area on the daily chart, and buyers are now stepping in confidently. Price is holding above that support and pushing toward the upper resistance region. A clean move and close above 200.00 could set the stage for a further leg upward, targeting the 207.30 zone as indicated on the chart.
From a macro perspective, recent developments are in favor of the pound and against the yen. The Bank of England has started easing, cutting rates to 4% with a "gradual and careful" tone, but still remains relatively hawkish amid sticky inflation pressures. Meanwhile, the Bank of Japan remains cautious, keeping rates low, which continues to exert weakening pressure on the yen overall.
Technically, the bounce from that demand zone and clear upward momentum indicate a strong continuation pattern. As long as the pair stays above 195.50, the trend remains bullish. Traders may look to enter on dips with stops below that zone, aiming for the 207.30 level where resistance and liquidity converge.
Overall, GBPJPY is showing a compelling trend-following opportunity driven by both technical structure and fundamental divergence. Breaking above 200 would likely accelerate momentum toward the 207 area. It’s a high-probability setup with clearly defined risk levels and strong macro alignment—not to be missed.
From a macro perspective, recent developments are in favor of the pound and against the yen. The Bank of England has started easing, cutting rates to 4% with a "gradual and careful" tone, but still remains relatively hawkish amid sticky inflation pressures. Meanwhile, the Bank of Japan remains cautious, keeping rates low, which continues to exert weakening pressure on the yen overall.
Technically, the bounce from that demand zone and clear upward momentum indicate a strong continuation pattern. As long as the pair stays above 195.50, the trend remains bullish. Traders may look to enter on dips with stops below that zone, aiming for the 207.30 level where resistance and liquidity converge.
Overall, GBPJPY is showing a compelling trend-following opportunity driven by both technical structure and fundamental divergence. Breaking above 200 would likely accelerate momentum toward the 207 area. It’s a high-probability setup with clearly defined risk levels and strong macro alignment—not to be missed.
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Join our Forex Community Telegram group and connect with thousands of traders.
Hit the Link below
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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.