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MCby u/mei.choi·1moAnalysis

Thoughts on $GBPJPY and potential resistance

Been watching $GBPJPY closely lately, and it's certainly had a decent run. Today's high touched 215.658, and it's now hovering around 215.429. I'm wondering if we're hitting a pretty significant resistance area here, around the 215.70-216.00 zone. Historically, there's been some chunky selling interest there, and the daily candles suggest price action is getting a bit stretched. If it breaks decisively above 216.00 and holds, my thesis is probably wrong, and we could see a push towards 217.50, but for now, I'm leaning towards a potential pullback or consolidation from current levels. Just my initial thoughts, keen to hear what others are seeing.

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