Expected Buying Zones for GBP/JPY on the 4-Hour Timeframe

The GBP/JPY pair continues to move within a strong upward trend on the daily timeframe, a trend confirmed after breaking through previous resistance levels.

Currently, the pair is attempting some short- to medium-term corrections, which could push it towards the demand zones identified on the chart.

Expected Scenarios

We anticipate a decline towards the initial demand zones near 217.400, from which a rebound is expected, targeting 218, 218.700, and 219.500 respectively.

If the initial demand zones are broken, we may see a continuation of the decline towards the next demand zones near 215.600, followed by a renewed upward move.