GBP/JPY Technical Analysis
Key Resistance Level
GBP/JPY is currently testing a strong resistance zone around 195.68, where previous price rejections have occurred. A breakout above this level could signal further bullish momentum, while a rejection may trigger a pullback.
Moving Averages & Trend
The price is trading above both the 50-day and 200-day moving averages, indicating a bullish trend. However, the resistance level poses a significant challenge for buyers.
Possible Scenarios
1. Bullish Breakout: A decisive close above 195.68 could push the price towards new highs, possibly targeting 197.00 in the coming sessions.
2. Bearish Reversal: Failure to break the resistance could lead to a correction towards key support levels around 192.70 and 190.35.
Trading Strategy
- Breakout Confirmation: Wait for a clear break and retest of the resistance before entering long positions.
- Rejection & Short Setup: If the price gets rejected, a short position targeting 192.70 could be considered with a tight stop loss.
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Key Resistance Level
GBP/JPY is currently testing a strong resistance zone around 195.68, where previous price rejections have occurred. A breakout above this level could signal further bullish momentum, while a rejection may trigger a pullback.
Moving Averages & Trend
The price is trading above both the 50-day and 200-day moving averages, indicating a bullish trend. However, the resistance level poses a significant challenge for buyers.
Possible Scenarios
1. Bullish Breakout: A decisive close above 195.68 could push the price towards new highs, possibly targeting 197.00 in the coming sessions.
2. Bearish Reversal: Failure to break the resistance could lead to a correction towards key support levels around 192.70 and 190.35.
Trading Strategy
- Breakout Confirmation: Wait for a clear break and retest of the resistance before entering long positions.
- Rejection & Short Setup: If the price gets rejected, a short position targeting 192.70 could be considered with a tight stop loss.
If you enjoy, press the like button.
Trade active
Note
Note
Once again i took a trade from 195.400 , this is a resistance area, target 140 pips+ achieved.
Trade closed: target reached
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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.
💸FREE FOREX Signals in Telegram : t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
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.