The GBP/JPY chart is currently indicating potential signs of a bullish momentum, as it approaches a key resistance level.
Resistance Levels:
The 1st resistance at 181.824 is categorized as a "Swing-high Resistance" indicating its potential to hinder upward price movements. Beyond this, the 2nd resistance at 184.051 is identified as "Multi-swing-high Resistance" emphasizing its role as a substantial barrier to further advances.
Support Levels:
On the support side, the 1st support at 179.770 is recognized as a "Pullback Support". This level suggests a zone where buying interest may emerge, potentially providing some support to the price. Additionally, the 2nd support at 178.641 is also characterized by an "Pullback Support", reinforcing its significance as a substantial support zone.