The GBP/JPY currency pair is currently showing bullish momentum. A shift in the trendline direction from downward to upward indicates that buying pressure is beginning to take control of the market.
This bullish scenario is further supported by bullish candlestick confirmation and the formation of a swing low, both of which signal that the price may be setting a base for a continued upward move. As long as the price remains above the key support zone, the upside potential remains valid.
Recommendation:
- Buy GBP/JPY
- Entry: 198.750
- Take Profit 1: 199.150
- Take Profit 2: 199.550
- Stop Loss: 198.350
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