
A recent upswing took GBP/JPY above a key resistance zone, opening the door to a possible longer-term trend reversal.
Is GBP/JPY gearing up for an upside breakout?
Let’s check out the pair’s 4-hour chart:
GBP/JPY: 4-hour
U.S. officials hinting at exemptions to Trump’s tariff plans and traders shrugging off Uncle Sam’s hotter-than-expected January CPI print got traders taking on more risks on Wednesday. European currencies like the British pound, in particular, got an extra boost from the possibility of a peace deal between Russia and Ukraine.
Meanwhile, the Japanese yen took a hit across the board after the Bank
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