GBP/JPY Gears Up for a Rally; Strong Buying Opportunity Awaits

The GBP/JPY pair is currently moving sideways on the 4-hour timeframe, with price action strongly indicating an accumulation phase.

Should this accumulation phase prove successful, a rise in the pair is anticipated over the medium to long term.

Expected Targets

If the current supply zones are breached and the price closes above them, an upward move toward the targets near the 212.40 and 213.50 levels—respectively—is expected.

This upward movement is contingent upon a breakout and a close with a bullish candle above the zones marked on the chart.