GBP/JPY Intraday Analysis
Our Daily Forex Analysis sheds light on the GBP/JPY’s current trajectory. With the momentum leaning upwards, the currency pair’s surge continues. The prevailing uptrend is forecasted to reach the 61.8% projection, marking a shift from 158.28 to 184.03, originating from 176.33 and aiming for the 192.24 target. However, an Intraday Analysis suggests potential shifts; a fall below the 183.48 minor support could pivot the intraday outlook towards neutrality, leading to initial consolidations before propelling another rally.
Delving deeper into the Daily Analysis, the larger frame showcases an uptrend stemming from 123.98, which was the low in 2020. The subsequent focal point for this trend will be the 195.90 threshold, echoing the high of 2015. This projected pathway is likely to hold, even if a significant pullback materializes, as long as the 176.33 support remains intact.
Analysis Summary
The Daily Forex Analysis for GBP/JPY indicates a prevailing upward momentum, targeting the 192.24 mark. While the possibility of short-term consolidations exists, the broader trend from 2020’s low points to a potential aim at 195.90.
Key Bullet Points
- GBP/JPY targets the 192.24 level, backed by the current uptrend.
- Potential short-term shifts with a drop below 183.48.
- The broader outlook remains bullish, anchored by the 176.33 support.
