Technical Analysis of GBP/JPY
The GBP/JPY pair is moving within an upward trend on the 4-hour timeframe, with prices rebounding from the 197.85 level, which represents a strong demand zone. It is also worth noting that the pair is trending upward on the higher timeframes (daily and weekly). Today, further upside is expected, supported by the weakness of the Japanese Yen.

Key Economic Events
There are no major economic releases for either the British Pound or the Japanese Yen today. However, the markets are expected to react strongly to Powell’s speech, followed by Trump’s remarks later in the day. Traders are advised to exercise caution during today’s sessions.

Liquidity Levels
Prices are expected to rise towards 199.85, followed by 200.33.

Invalidation Scenario
The bullish scenario will be invalidated if prices revisit the 197.85 level.