Weekly Market Analysis: GBP/JPY & USD/JPY

Happy New Year Traders,

For our first analysis for the year, let’s look at:

1. GBP/JPY

GBP/JPY is still locked within a consolidation zone.

This week we may see price revisit NPRL, as price closed at a key support zone last year.

2. USD/JPY

Last year price clearly broke the key support zone that held price for the entire December of 2023.

This week we may see USD/JPY drop almost 300 pips to NPSL

What say you?

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