(Gbpjpy)Alternative (Bullish) Analysis
1. Breakout Above Resistance at 190.070
The chart suggests rejection from 190.070, but if price breaks and holds above this level, it could signal further upside momentum.
Instead of a bearish move, price could consolidate above 190.165 and push toward 191.003 or higher.
2. Strong Accumulation in the Support Zone (187.800)
The support area at 187.800 has already been tested multiple times, and each time, price has rebounded.
This could indicate a strong demand zone, meaning buyers are stepping in aggressively.
If buyers push price back to resistance and break through, a new bullish trend may emerge.
3. Liquidity Grab Below 188.000
The previous dip below 188.000 may have been a liquidity grab to stop out weak hands before a bullish reversal.
If this assumption holds, price may now aim for higher highs rather than another rejection from resistance.
4. Market Structure Shift
Instead of forming a lower high at resistance, a higher low formation could suggest an uptrend.
If price finds support around 189.000 instead of dropping to 187.800, a bullish continuation pattern would be confirmed
1. Breakout Above Resistance at 190.070
The chart suggests rejection from 190.070, but if price breaks and holds above this level, it could signal further upside momentum.
Instead of a bearish move, price could consolidate above 190.165 and push toward 191.003 or higher.
2. Strong Accumulation in the Support Zone (187.800)
The support area at 187.800 has already been tested multiple times, and each time, price has rebounded.
This could indicate a strong demand zone, meaning buyers are stepping in aggressively.
If buyers push price back to resistance and break through, a new bullish trend may emerge.
3. Liquidity Grab Below 188.000
The previous dip below 188.000 may have been a liquidity grab to stop out weak hands before a bullish reversal.
If this assumption holds, price may now aim for higher highs rather than another rejection from resistance.
4. Market Structure Shift
Instead of forming a lower high at resistance, a higher low formation could suggest an uptrend.
If price finds support around 189.000 instead of dropping to 187.800, a bullish continuation pattern would be confirmed
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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.