first!!! it is still bullishBritish Pound Sterling / Japanese YenCMCMARKETS:GBPJPYJoshZedFXLong-term trend is UP – price has been making higher highs and higher lows on the monthly chart since 2020. The most recent major high was ~219.00 Price is now in a pullback from that high, but the overall structure of higher highs remains intact unless the prior major swing low is broken. 📉 Current Structure (Daily & Weekly) Price is in a downtrend on the daily timeframe – a series of lower highs and lower lows since the 219.00 peak. The current move down is a correction within the larger uptrend, not a reversal (yet). Price is currently hovering around a major structural support zone – the area of the previous swing high from earlier in the year (old resistance became support).