GBPJPY at Key Support: Potential Rebound Ahead

GBPJPY is approaching a key demand zone, marked by prior price reactions and significant buying pressure. This zone has historically acted as strong support, suggesting the potential for a bullish reaction if buyers step in.

If the price confirms a rejection from this demand zone, I anticipate an upward move toward the 191.450 level, which aligns with a logical retracement level.

Traders should look for bullish confirmation signals, such as bullish engulfing candles or a series of higher lows, to validate potential long positions.