GBPJPY: Buyers are gaining strength for a new rise

GBPJPY, Daily

The asset broke through the downtrend level and successfully tested it, confirming the trend change. The asset is confidently updating the local highs, which indicates the recovery of interest from the buyers and the possible continuation of the growth.

Now, the price is testing the key resistance level at 192.14. If it consolidates above, the upward movement may accelerate, with a potential target of 194.57.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: FBS Analyst Team

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