The GBP/JPY currency pair is currently showing signs of a bullish reversal. This upward bias is supported by a trendline shift from a downtrend to an upward movement, signaling growing bullish momentum.
Additional confirmation comes from the potential formation of a swing low and a double bottom pattern, both of which are well-known technical signals for a trend reversal to the upside.
As long as the price holds above support, the bullish outlook remains valid.
Recommendation:
- Buy GBP/JPY
- Entry: 198.900
- Take Profit 1: 199.300
- Take Profit 2: 199.700
- Stop Loss: 198.500
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