GBP/JPY, Technical Analysis – H4

The pair, having endured a rather prolonged downward correction (over 200 hours), has nevertheless preserved both its upward structure and bullish momentum. Given the test of the medium-term trend line, a resumption of the upward move toward new highs (the 220.00 area) can be expected.

Key Levels:

□ 219.00

□ 220.00

Primary Scenario:

Rise toward 219.00, with a target at 220.00.

Alternative Scenario:

Continued consolidation at current levels.

Analyst Commentary:

First signs of a bounce are already being observed.