GBP/JPY (British Pound / Japanese Yen) on the 1-hour timeframe,
GBP/JPY (British Pound / Japanese Yen) on the 1-hour timeframe, illustrating a potential bullish setup.
Chart Analysis:
• The price is currently around 188.65, trading near a support zone (highlighted in red).
• A possible bullish breakout is depicted, with price expected to rise towards 190.78 - 191.75.
• Key levels:
• Support Zone: Around 188.30 - 187.75 (potential bounce area).
• Resistance Zone: Around 190.78 - 191.75 (potential target).
• The chart also includes a rounded top formation, indicating a prior bearish move, followed by consolidation.
• The expected scenario suggests a breakout from consolidation, leading to an upward move.
Chart Analysis:
• The price is currently around 188.65, trading near a support zone (highlighted in red).
• A possible bullish breakout is depicted, with price expected to rise towards 190.78 - 191.75.
• Key levels:
• Support Zone: Around 188.30 - 187.75 (potential bounce area).
• Resistance Zone: Around 190.78 - 191.75 (potential target).
• The chart also includes a rounded top formation, indicating a prior bearish move, followed by consolidation.
• The expected scenario suggests a breakout from consolidation, leading to an upward move.
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.