CHART BREAKDOWN GBPJPY: Key Levels, Targets and Thoughts!🎯

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Brief Description🖊️:

The chart provides insights into critical market levels, emphasizing an essential supply zone (medium-risk sell zone) spanning from 196.650 to 197.150. Additionally, medium-risk buy zone between 192.000-191.700, respectively, are highlighted.


Things I Have Seen👀:


Medium-Risk Sell Zone🟠: Positioned between 196.650 and 197.150, suggesting another area with moderate risk for potential selling positions.

Medium-Risk Buy Zone🟠: Positioned between 192.000 and 191.700, suggesting another area with moderate risk for potential buying positions.


Bearish Targets📉:

195.200: Possible retracement area.
193.200: Possible retracement area.
192.000: Significant Demand Zone


Bullish Targets📈:

193.000: Possible retracement area.
194.800: Possible retracement area.
197.000: Possible retracement area.
200.500: Liquidity area.

What's Important Now❗
Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market.

Disclaimer

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