GBPJPY Chart Technical Outlook lower highs offer a negative bias, the trend barrier is at 197.97
Although GBP/JPY posted an Inside Day yesterday, with the intraday chart highlighting lower highs, we look to be forming a Descending Triangle pattern. The trend of lower highs is located at 197.97. Bespoke resistance is located at 197.94. The previous support from November 8 is at 196.75. I would expect intraday price action to remain mixed and volatile. Selling rallies offers a decent risk reward.
