Will The GBP/JPY Pair Keep The Downward Trend?

Rising U.S. Treasury Bond Yields Have Helped The USD/JPY Bulls

 

GBP/JPY is locked inside a descending triangle that continues to call for more downside progress towards the 38.2% corrective target at 154.41 and maybe even closer to the 50% corrective target at 150.09, but only time will tell. The descending triangle is coming close to its completion, but we can't exclude a final rally towards 163.25 before it's ready to take on support near 160.00 in full. The pair might break below before the expected decline towards 154.41 and maybe lower.

 

Relevance up to 07:00 2022-09-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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Rising U.S. Treasury Bond Yields Have Helped The USD/JPY Bulls

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