FX.co ★ GBP/JPY

Hello traders, A bit further down, and the advantage in the GBPJPY currency pair may completely shift to the sellers. A consolidation below 195.25-195.00 would indicate a shift towards the sellers, making selling opportunities relevant. In this case, the sellers' targets would be at levels 194.00, 193.25, 192.75, and possibly 192.00, etc. The buying activity in yen pairs is currently subsiding, which could potentially lead to a full reversal. The Japanese yen in the GBPJPY pair has already dropped by over 300 pips, which is a decent move even for a yen pair. However, for now, it's just a pullback. To consider buying again, we need to wait for the price to move back above 197.00-197.30. Although, if there are indications for yen strength, the price might just pull back to this range before heading lower towards more distant targets.