GBPJPY - Can Bulls Overpower BoJ Hawkishness?🔶 GBP/JPY Price Outlook – Trade Setup
📊 Technical Structure
GBP/JPY rebounded from the 199.32–199.27 support zone, reclaiming ground above 199.45. Price is now approaching the 199.71–199.78 resistance area, which aligns with prior rejection levels and trendline pressure. Momentum remains constructive, but upside may face headwinds given BoJ’s hawkish stance.
📈 Trade Setup
Entry (Buy): 199.27–199.32
Stop Loss: 199.25
Take Profit: 199.71–199.78
Risk/Reward (R:R): ~1 : 5.88
🔑 Key Technical Levels
Resistance: 199.71 / 199.78
Support: 199.32 / 199.27
🌍 Macro Background
The BoE’s cautious stance on rate cuts continues to lend support to Sterling, while expectations for a BoJ rate hike later this year underpin the Yen. Political uncertainty in Japan may delay policy normalization, keeping the pair supported near-term, though hawkish BoJ risks could cap the upside.
📌 Trade Summary
GBP/JPY intraday bias is mildly bullish while above 199.27 support, targeting 199.71–199.78. However, bulls should be cautious of resistance pressure from the BoJ side, which could trigger a sharp rejection if tested.
⚠️ Disclaimer:
This analysis is for reference only and does not constitute trading advice. Trading involves significant risk, and proper risk management is essential.
