GBP/JPY Analysis, Via 4-Hour Chart
The Pound vs. Yen is stuck in a descending broadening channel. As we can see, price was rejected by that area of supply (around the 138.900 psychological level) and looks like it wants to head back into that support level of 133.950. If we can get a rejection of that previous support level, it shall form a double bottom and break July 19th's descending trend line for potential bullish movement.
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.