Technical Analysis of GBP/JPY (1H Chart)
The price tested a well-defined resistance area (191.200-191.700) and faced rejection, confirming strong resistance. The bearish momentum suggests a continuation toward the target area at 189.600-189.000.
NOTE: The more strong supply zone near 192.100-192.500.
- Supply Zone Holding: Price failed to break above resistance.
- Bearish Momentum: Selling pressure increasing after rejection.
- Target Area: Potential downside continuation toward 189.000.
A break above the supply zone could invalidate the bearish setup, while sustained rejection favors further downside.
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The price tested a well-defined resistance area (191.200-191.700) and faced rejection, confirming strong resistance. The bearish momentum suggests a continuation toward the target area at 189.600-189.000.
NOTE: The more strong supply zone near 192.100-192.500.
- Supply Zone Holding: Price failed to break above resistance.
- Bearish Momentum: Selling pressure increasing after rejection.
- Target Area: Potential downside continuation toward 189.000.
A break above the supply zone could invalidate the bearish setup, while sustained rejection favors further downside.
If you enjoy, press the like button.
Trade active
Note
Trade activated now 191.400.Note
sell trade activated now , from strong supply zone.Trade closed: target reached
We took re-entry after sl hunting , now 200 pips+ profit booked.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.