GBP/JPY Update – Potential Long Opportunity
The pair has found support around the 38.2% Fibonacci retracement level near 197.264, creating a potential opportunity for a reversal to the upside.
Momentum is building for a push towards the 197.506 - 197.656 area, which corresponds to the 23.6% Fib and a key resistance zone.
Watch for a breakout above 197.656 for a continuation of the bullish trend towards 198.012.
🔑 Key Levels:
Support: 197.264 (38.2% Fib)
Resistance: 197.506, 197.656, 198.012
This is a setup to keep an eye on as momentum shifts from the recent bearish leg. 📈
Momentum is building for a push towards the 197.506 - 197.656 area, which corresponds to the 23.6% Fib and a key resistance zone.
Watch for a breakout above 197.656 for a continuation of the bullish trend towards 198.012.
🔑 Key Levels:
Support: 197.264 (38.2% Fib)
Resistance: 197.506, 197.656, 198.012
This is a setup to keep an eye on as momentum shifts from the recent bearish leg. 📈
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