GBPJPY accurate analysis strategy today

15 hours ago

After a strong correction and finding a bottom at 180 in early August,

GBPJPY
began to recover, initially rising to the 193 zone.
Another leg down followed, but this time, bulls regained control at the 183.90 level, forming a higher low supported by a double bottom pattern.
The next upward move stalled at the 195 resistance, and the pair has since entered a consolidation phase.

However, the recent consolidation range is tightening, and it appears that the price is gearing up for an upward breakout.
I am slightly bullish on this pair, and a break with a daily close above the 195.70 resistance level would confirm this outlook, potentially leading to further gains toward the key 200 zone.

In the short term, interim resistance around 198 could also serve as a target for bullish traders.