In December, GbpJpy experienced a corrective phase, typical of JPY pairs in this period (repatriation of capital). However, after testing the 179 support level three times, the pair reversed course at the beginning of the year, swiftly recovering previous losses and returning to previous highs.
Currently, the pair is undergoing a minor correction following its rise in January. This presents a promising opportunity to participate in the overall bullish trend. A favorable buying range lies between 185.50 and 186.50. In terms of targets, aiming for the 195 resistance level in the medium term is reasonable.
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