GBP/JPY Long-Term Analysis: Breakout Towards 435.00British Pound/Japanese YenFX:GBPJPYCihan_AkdumanI am presenting my technical analysis of the GBP/JPY currency pair on the monthly timeframe, which shows a significant bullish setup. The pair is currently trading at 211.31 and has recently broken out of a multi-decade descending trendline, signaling a potential major trend reversal. Technical Analysis: The chart reveals a compelling technical picture that suggests substantial upside potential. GBP/JPY has successfully broken above a long-term descending resistance line that had capped price action for decades. This breakout represents a significant shift in market structure and confirms the bullish momentum that has been building. The price action has also cleared above the marked order block zone around 190-210, which now serves as a crucial support level. This area represents strong institutional buying interest and should provide a solid foundation for further upside movement. The horizontal support levels at 174.00, 163.879, and 130.701 create a well-defined support structure beneath the current price. Target Analysis: Based on the chart structure, I see a realistic target in the 435.00 area, which corresponds to the historical resistance zone marked on the chart. This level represents a key supply area from previous decades where significant selling pressure emerged. Reaching this target would align with the overall weakening trend of the Japanese Yen against major currencies. Fundamental Backdrop: Similar to EUR/JPY, the fundamental outlook supports further Yen weakness. The Bank of Japan's continued accommodative monetary policy stance contrasts sharply with the Bank of England's relatively hawkish position. This interest rate differential creates favorable conditions for carry trades and supports the technical bullish case. Risk Management: Traders should monitor the order block zone around 190-210 as the key support area. A sustained break below this level would require reassessment of the bullish scenario. The ascending trendline from recent lows also provides dynamic support that should be watched closely. Any reversal in central bank policies or unexpected macroeconomic shocks could impact the trajectory. This analysis represents my personal technical assessment and does not constitute financial advice. Always conduct your own research and implement proper risk management.