GBP/JPY (British Pound / Japanese Yen) 30-minute chart . The chart shows key support and resistance levels, along with a projected bearish scenario.
Analysis:
1. Resistance Levels:
• 192.691 is acting as a resistance level, where the price has struggled to break higher.
2. Support Levels:
• 191.787 and 191.601 are intermediate support zones.
• 190.905 - 190.500 (highlighted in red) is a potential demand zone where price might react.
• The next major support is 190.140.
Bearish Outlook:
• The chart suggests a possible lower high formation, indicating weakness in price action.
• If the price fails to sustain above 192.389, it could break lower towards the 191.787 - 191.601 support area.
• A further breakdown could push GBP/JPY into the 190.905 - 190.500 demand zone.
This setup is likely based on price action analysis and support/resistance trading strategy. Let me know if you need further insights!
Analysis:
1. Resistance Levels:
• 192.691 is acting as a resistance level, where the price has struggled to break higher.
2. Support Levels:
• 191.787 and 191.601 are intermediate support zones.
• 190.905 - 190.500 (highlighted in red) is a potential demand zone where price might react.
• The next major support is 190.140.
Bearish Outlook:
• The chart suggests a possible lower high formation, indicating weakness in price action.
• If the price fails to sustain above 192.389, it could break lower towards the 191.787 - 191.601 support area.
• A further breakdown could push GBP/JPY into the 190.905 - 190.500 demand zone.
This setup is likely based on price action analysis and support/resistance trading strategy. Let me know if you need further insights!
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.
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.