GBPJPY4H chart shows it has been in consolidation.
At the time of writing, GBPJPY pushed through both the upper and lower bound of the price channel.
1D chart
An inverted head-and-shoulders is forming, with the neckline yet to break. Rising volume hints at a potential bullish move.
The Yen inflation
Japan’s inflation hit 4.0% in January 2025, a two-year high (weak Yen). This strengthens the case for BOJ rate hikes, potentially boosting JPY and pressuring GBPJPY upsides.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.