GBPJPY Wave Analysis – 9 July 2025

GBPJPY: ⬇️ Sell

– GBPJPY reversed from long-term resistance level 199.65

– Likely to fall to support level 198.00

GBPJPY currency pair recently reversed from the strong long-term resistance level 199.65 (former strong resistance from October, November and July) standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 199.65 is likely to form the daily Shooting Star reversal pattern.

Given the bearish divergence on the daily Stochastic indicator and the strength of the resistance level 199.65, GBPJPY currency pair can be expected to fall to the next support level 198.00.

Source: https://fxpro.news