The pound yen and the new forecast scenarios

The best buying and selling areas for the GBP/JPY pair.

 

After the significant rise in the GBP/JPY pair due to the interest rate fixing on the yen, 

the GBP/JPY pair reached important and strong daily supply zones.

We are expected to see a decline in the pair, 

especially if it reaches the overlapping supply zones on the 4-hour timeframe, 

which are considered among the best selling areas for the pair at the moment. 

Despite the strength of the zone, it is preferable to enter selling after any price confirmation. 

This is due to the weakness of the yen, which may push the pair to continue rising. 

In the event of a correction, the pair may reach the specified demand zones,

from which it is expected to return to the upside. However, in the event of a breakou

t and a close below the specified demand zones, the decline is expected to continue and the downtrend to return.