GBPJPY is currently trading in a sideways pattern within an ascending channel. The support zone around 197.900 has been respected multiple times, while price repeatedly fails to break above the 199.800 resistance – signaling that built-up pressure may soon erupt.
Recent data shows that UK inflation remains high, and the Bank of England may maintain its hawkish stance, supporting the GBP. Meanwhile, global risk-off sentiment continues to weaken the JPY.
If price breaks through the current resistance, it would confirm the continuation of the uptrend, with a target toward the upper boundary of the red channel. However, if rejection persists, buying from support remains a valid strategy.
Recent data shows that UK inflation remains high, and the Bank of England may maintain its hawkish stance, supporting the GBP. Meanwhile, global risk-off sentiment continues to weaken the JPY.
If price breaks through the current resistance, it would confirm the continuation of the uptrend, with a target toward the upper boundary of the red channel. However, if rejection persists, buying from support remains a valid strategy.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 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.