Forex market analysis: USD/JPY and GBP/USD trends

The foreign exchange market shows varying trends for major currency pairs. The USD/JPY pair has seen a rebound from 155, recently breaking through 159.76. While there is a mild upside bias toward 160.62, strong resistance is expected at that level. A sustained break above 160.62 could lead to higher projections, though a break below 155.01 might signal a larger-scale correction toward 139.87.

In the GBP/USD market, after a sustained upward move, the price is beginning to retrace. Traders are monitoring key areas including unmitigated order blocks, liquidity near recent highs, and imbalances that may become relevant during deeper retracements. The current market behavior suggests a period of rebalancing inefficiencies rather than a definitive trend reversal.