- GBP/JPY bulls are in the market and eye breakout.
- Bears need to see the structures broken on the downside.
GBPJPY has been riding trendline support in the upper end of a box as the following will illustrate:
GBP/JPY H1 chart
A break of 172.00 needs to occur with 171.20s next in line as a potential target. On the flip side, the price could easily break higher and out of the resistance marked at 172.80.
GBP/JPY daily charts
GBP/JPY monthly chart
GBP/JPY is on the approach to higher highs as per the monthly chart outlook with 174.80s and 175.00 eyed.
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