Hey Traders, In the upcoming week, our focus will be directed towards GBPJPY, where we are actively observing a potential selling opportunity within the 181 zone. Presently, GBPJPY is navigating a downtrend, indicative of a sustained downward momentum. Within this broader trend, the currency pair is currently undergoing a correction phase, steadily approaching the trend at the significant 181 resistance area.
The correction phase in GBPJPY introduces a dynamic element to the market, offering the prospect of a strategic entry point for sellers. The 181 resistance area holds particular importance due to its historical significance as a level where price movements have previously elicited substantial reactions. Traders will closely monitor this critical juncture in anticipation of signals that may inform their selling decisions in the coming week.