GBPJPY is in Range bound pattern

GBPJPY is trading in a range-bound pattern, creating potential trading opportunities using support and resistance levels. Support represents a price level where buying pressure is strong enough to prevent further declines, while resistance represents a price level where selling pressure is strong enough to prevent further increases. Traders can use technical analysis tools, including trendlines, moving averages, and pivot points, to identify these levels. Waiting for a breakout of either the support or resistance level can confirm if a new trend is forming. It's also essential to consider fundamental factors that could impact the currency pair's movement, such as economic data releases and geopolitical events.