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17.06.2025 06:38 AM
If we look at the 4-hour chart, the GBP/JPY cross currency pair is seen moving in a Bullish bias, which is confirmed by its price movement which is moving in a Bullish channel that is diving upwards and above the WMA (21), which also has a slope that is diving upwards, but with the condition of the Stochastic Oscillator indicator that is at the Overbought area level, it indicates the potential for a weakening correction in the near future, but as long as it does not break through and close below the 193.74 level, GBP/JPY will continue to strengthen again to the 197.13 level and if the volatility and momentum of the strengthening support it, 198.06 will be the next target to be aimed for.
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
