FX.co ★ ckerluke | GBP/JPY

At the moment, the currency pair GBPJPY is showing interest in two support levels. The first-order level is at 191.753 and the second-order level is at 190.790. These are the presumed targets for selling in the current situation. Buying on this instrument is currently not advisable. This is indicated by the fact of breaking through the level of 192.717. A breakthrough in the opposite direction would signal buying opportunities. If this occurs, it would confirm the beginning of buyer aggression. Overall, the GBPJPY currency pair is currently under selling pressure, therefore short positions are currently more preferable. I expect this selling pressure to continue until the level of 190.790. Below this price, there is no room for opening short positions, only taking profit from existing orders. And of course, at that point, potential levels for long positions can be identified.