GBP/JPY: What's the future for Yen?British Pound/Japanese YenFX:GBPJPYIncome_StatementIf you look for fundamental reasons as to why the Yen is getting so weak, you are going to find plenty. These may include political factors, widening interest rate differentials, energy and trade costs, and more. During times of high uncertainty, it's always a good idea to refer to good old technical analysis ⚙️ ⏱️ My favorite type of technical analysis to use in this situation is multi-timeframe analysis: Monthly timeframe: The price has been ascending strongly since Mar '20, and it is not showing any signs of weakness. There is a strong support trendline that has been tested by the price multiple times, and it has consistently held its ground. Weekly timeframe: Not much new information here, besides a steady rise that has been ongoing for several years. The price occasionally pulls back to the trendline but fails to break down, continuing its bull run instead. Daily timeframe: Here we can see why this pair is a favorite among many traders—it accommodates any style of trading, whether short-term or long-term. Despite the steady macro rise, you can see how many different opportunities this pair provides on a daily basis. ✅Back to the Monthly timeframe, we can clearly see a Double Bottom pattern, also known as the "W" pattern among traders. In a bullish Monthly context, it is a rare and powerful pattern that often signals the continuation of the broader trend. ⚠️ Currently, the price is testing the July '08 resistance level at ~¥215.800, which is a crucial mark. If it breaks out and establishes a strong position above this level, the next target will be the Aug '98 high at ~¥240.860.