In the recent context, both GBP and JPY have been under pressure: the British pound faces risks from fiscal concerns, while the Japanese yen weakens due to political instability in Japan. Combined, GBP still holds the upper hand thanks to UK gilt yields remaining elevated, helping the pair maintain a slight bullish bias.
On the H2 chart, GBP/JPY is moving sideways within a wide range. The EMA34 and EMA89 are converging around the current price area, indicating that buyers remain in control. The key support at 198.400 has held firm multiple times, while short-term resistance lies at 199.700.
Overall, the main trend remains bullish within the sideway channel. As long as price holds above 198.400, GBP/JPY has the potential to rebound and continue testing the 199.700 zone, and possibly push above the 200.000 mark.
On the H2 chart, GBP/JPY is moving sideways within a wide range. The EMA34 and EMA89 are converging around the current price area, indicating that buyers remain in control. The key support at 198.400 has held firm multiple times, while short-term resistance lies at 199.700.
Overall, the main trend remains bullish within the sideway channel. As long as price holds above 198.400, GBP/JPY has the potential to rebound and continue testing the 199.700 zone, and possibly push above the 200.000 mark.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
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🔥 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.