GBP/JPY ending a corrective phase

GBP/JPY ending a corrective phase

GBP/JPY has been trapped in a bearish correction Since December 8th highs and now it’s testing the 200 SMA at H1 chart. Also, the pair has touched a demand zone established between the 50% and 65% levels at 150.18 and 149.21 respectively. If it manages to rebound above that area, the next target should be placed at the -23.6% level at 154.91.

RSI indicator remains in the neutral territory, calling for further sideways in the next hours before to make a decisive move.

GBPJPYH4.png

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