GBP/JPY, Technical Analysis – H4
The pair has likely completed the latest phase of downward technical correction and now appears poised for a fresh bullish trend swing.
The pair has likely completed the latest phase of downward technical correction and now appears poised for a fresh bullish trend swing. The most obvious target is a breakout (or wick-through) of the previous local high zone around 215.500.
Key Levels:
□ 215.500 — key resistance and primary upside target
□ Current levels — consolidation base after correction
Primary Scenario:
Rise toward 215.500.
Alternative Scenario:
Continuation of consolidation at current levels.
Analyst Commentary:
High probability of successful execution.
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.