An interesting situation is seen on the GBP/JPY on H4 chart. Over the past two days, there has been a stronger supply reaction, which, however, has not changed the wider uptrend. Looking at the chart, at first glance, you can see that the corrections here have a fairly similar range. The current bearish movement has enough space to match the previous corrections. The last several hours have been marked by weak increases. Currently, the price is starting to fall, which may suggest that yesterday’s declines will be continued. It seems, therefore, that one can expect a continuation of the sell-off as part of the correction, at least to the area around the recent correction range or to the vicinity of the trend line.
