GBPJPY Next Week🎯 Bias: Bearish unless 4H/Daily demand holds at 189.200British Pound / Japanese Yen forum
GBPJPY Next Week🎯 Bias: Bearish unless 4H/Daily demand holds at 189.200
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GBPJPY GBP/JPY Intraday Trade Setups
🟢 Buy Trade Setup
Entry: 189.427 ⚡
Stop Loss: 188.850 🛡️
Take Profit 1: 190.200 🎯 (1:2.1 R/R)
Take Profit 2: 190.900 🎯 (1:4.8 R/R)
Rationale:
Confluence at 189.427 aligns with 61.8% Fibonacci retracement of March 2025 rally
Strong historical support zone (189.300-189.500)
Bullish divergence on 1H RSI
🔴 Sell Trade Setup
Entry: 190.457 ⚡
Stop Loss: 191.150 🛡️
Take Profit 1: 189.700 🎯 (1:2.3 R/R)
Take Profit 2: 188.900 🎯 (1:4.2 R/R)
Rationale:
Resistance cluster at 190.457 (38.2% Fib extension + 50-DEMA)
Bearish engulfing pattern on 4H timeframe
MACD histogram shows fading bullish momentum