The GBPJPY pair is trading within a general upward trend inside the rising green channel.

This week, the pair has entered a corrective phase and is currently approaching the lower limit of the channel.

Additionally, the red area is a strong support area.

Therefore, as the pair approaches the intersection of the support area with the lower green trend line, we will be waiting for buying opportunities that follow the trend on smaller timeframes.

• Do you expect a bullish rebound from this area? Share your opinion or plan in the comments.

Note: This analysis is for educational purposes only and does not constitute financial or investment advice. Always make sure to manage your risks and make decisions based on your own study.