GBP/JPY SHORT
We are still overbought market on the daily and weekly timeframe also GBP can’t continuously keep going up. There’s currently 87% short positions open on GBP/JPY compared to 13% long. GBP has a inflation problem and has already registered more small businesses falling into administration in may then previously months. Britain’s cost of living crisis is broadening out into a cost of borrowing crisis.UK is facing its longest recession since records began, as it raised interest rates by the most in 33 years with unemployment nearly doubling by 2025.BoJ will intervene also. The pair can however go to the next resistance zone 185-186 before the fall happens
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