1. Support Retest: The price is expected to stabilize around the 193.00 level, which acts as a strong support zone.
2. Potential Reversal: A bullish recovery is anticipated from this support, indicated by the blue projection line.
3. Target Resistance: The price may rise toward the 195.00 - 195.50 resistance zone, where sellers might step in.
Trading Insights:
Bullish Scenario: If GBP/JPY holds above 193.00, a breakout could push it towards 195.00.
Bearish Scenario: A break below 193.00 may lead to further downside pressure.
2. Potential Reversal: A bullish recovery is anticipated from this support, indicated by the blue projection line.
3. Target Resistance: The price may rise toward the 195.00 - 195.50 resistance zone, where sellers might step in.
Trading Insights:
Bullish Scenario: If GBP/JPY holds above 193.00, a breakout could push it towards 195.00.
Bearish Scenario: A break below 193.00 may lead to further downside pressure.
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.