The GBP/JPY currency pair is currently showing signs of bullish continuation. Technical indicators support this view, with a bullish candlestick pattern confirmed and the formation of a swing low, suggesting strong demand at lower levels.
In addition, the price action appears to be forming a double bottom pattern, a classic chart formation that often signals a trend reversal from bearish to bullish. These combined signals increase the likelihood of further upside in the short term.
Recommendation:
- Buy GBP/JPY
- Entry: 197.540
- Take Profit 1: 197.840
- Take Profit 2: 198.140
- Stop Loss: 197.240
*DISCLAIMER: All content in daily forex news is informative. PT. Maxco Futures does not guarantee its accuracy and completeness. The company is not responsible for investment losses due to the use of the information contained.
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