GBPJPY in a Very Risky Bearish ScenarioGBPJPY in a Very Risky Bearish Scenario
The BOJ hasn't supported the JPY for a long time, and it doesn't seem to be doing better now. Without delving deeply into this topic, we can observe that GBPJPY didn't react at all yesterday, even as all GBP pairs increased significantly after the UK data release.
Today, the price is getting ready for a bearish breakout from the bullish channel pattern. Considering the hesitation for a bullish wave yesterday, the chances are growing for a bearish wave, despite the high risk it entails.
The areas where the price may face strong support are 193.85, 192.90, and 191.00.
You may find more details in the chart!
Thank you and Good Luck!
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