GBPJPY on November 23rd

On November 23, the GBP/JPY pair underwent a bearish shift, marking a pause in its recent short-term rally around 187. The current trading position is below 186.5, and its trajectory for the day is closely tied to the performance of the British Pound, notably influenced by PMI news. Meanwhile, the Bank of Japan's observance of a public holiday has tempered the impact of the Japanese Yen. Analysis of the 4-hour chart suggests the potential continuation of a more pronounced bearish correction. Buyers might be drawn to support levels at 185.5 and 185.