GBPJPY Analysis: Swing 20/01/2025

GBPJPY Analysis: Key Levels to Watch

Since rejecting 198.500 on January 8th, GBPJPY has been in a steady bearish descent, completing an M-structure on the daily timeframe. Fundamentals continue to support JPY strength in the coming days and weeks, suggesting further bearish momentum.

However, keep in mind that we could see a bullish pullback before the next leg down. For now, the key level to watch is 190.400. If we get a daily bearish close below this level, it could open the door for a move toward 187, offering a potential 400-pip opportunity before reassessing.

Patience is crucial—no trade unless we see a confirmed break below 190.400