GBPJPY → The Yen continues to weaken. Target 197.0

GBPJPY is testing trend support, but buyers are keeping the price away from risk zones. The currency pair is returning to the bullish zone relative to 193.5, which generally opens up the market to 195.0-197.0 upside potential

On W1, the currency pair after a false breakdown of global resistance is moving back to 195.844, which generally tells us about the strength of buyers. Interventions by the central bank of Japan played a short-term role and the news leverage has exhausted itself. Traders continue to put on short positions and still sell the national currency, which in general only strengthens the pound against the yen.
Consolidation above 193.5 confirms the bulls' intentions to continue the growth.

Resistance levels: 194.15, 195.56, 197.38.
Support levels: 193.54, 193.0

A retest of the local resistance at 194.15 is being formed. A breakdown and consolidation above this level will cause further growth towards the previously mentioned targets.

Regards R. Linda!

Trade active:

Consolidation is forming above the key level. The pair is preparing to go higher

Trade active:

The first goal can be achieved in the near future

Trade active:

The bullish momentum is actively developing, while the yen continues to weaken. Traders are betting that the national currency of Japan may lose a few percent in the near future

Trade active:

Trade active

Trade active:

Trade closed: target reached:

Interim goal achieved
The currency pair may reach the key target next week

Trade active:

There is an important level of 195.56 ahead. A pullback or consolidation before further growth is possible.
Prospective target 197.4

Trade closed: target reached

Trade active:

Comment:

The target of 197.38 is almost reached
Price is testing the channel resistance and in general, part of the order can be closed

Trade closed: target reached

Comment:

Weakness in the Japanese Yen prevents the greasy pair from falling far. A retest of resistance is forming

Trade closed: target reached:

The end target has been reached