GBPJPY

Key Indicators

• The buying pressure has started to appear on the H4 timeframe after the recent sharp decline. This signals that the market is attempting to create a short-term equilibrium zone and preparing for a technical rebound.

Fundamental Context

The pound is recovering momentum and displaying relative strength against the Yen after the sharp decline. However, the cleanest technical signal is not yet present. Price is trapped between improving MACD and overhead trend resistance.