FX.co ★ GBP/JPY

Hello traders, since the beginning of this week, GBPJPY has remained under selling pressure. It can be assumed that a reversal of the pair from recent highs is forming. There are fundamental prerequisites for this. Regarding the yen, the timing of rate hikes is being pushed back to later dates, while for the pound, markets are anticipating rate cuts. From a technical standpoint, if the Ichimoku cloud breaks down below 208.60 and further below the local low of 207.50, I will consider this a confirmed reversal of the pair to the downside.