GBPJPY might continue its decline toward the level of 185
GBPJPY might continue its decline towards the level of 185.
On the daily timeframe, the level of 185 aligns with a demand area, creating a confluence.
On the H4 timeframe, we can see that the price has formed a bearish divergence.
However, traders should remain cautious as geopolitical tensions in the Middle East and potential intervention from the BOJ could strengthen the yen in the short term.
Overall, my view is that the overall direction for GBPJPY remains uptrend."
On the daily timeframe, the level of 185 aligns with a demand area, creating a confluence.
On the H4 timeframe, we can see that the price has formed a bearish divergence.
However, traders should remain cautious as geopolitical tensions in the Middle East and potential intervention from the BOJ could strengthen the yen in the short term.
Overall, my view is that the overall direction for GBPJPY remains uptrend."