Technical Analysis of GBP/JPY
🔻 Price Rejected from Key Resistance Zone
GBP/JPY faced strong rejection at the 189.00–190.15 area, which previously acted as support and now serves as a resistance zone.
📉 Bearish Setup in Play
After multiple rejections from the red supply zone, price action indicates a potential short opportunity with downside momentum building.
🎯 Target Levels Identified
- 1st Target: 186.61
- Further Downside Targets: 185.31 – 184.52 zone
These levels align with prior demand zones and price reactions.
📊 Volume Confirmation
Noticeable increase in selling volume supports bearish bias, enhancing the probability of price moving toward the identified targets.
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🔻 Price Rejected from Key Resistance Zone
GBP/JPY faced strong rejection at the 189.00–190.15 area, which previously acted as support and now serves as a resistance zone.
📉 Bearish Setup in Play
After multiple rejections from the red supply zone, price action indicates a potential short opportunity with downside momentum building.
🎯 Target Levels Identified
- 1st Target: 186.61
- Further Downside Targets: 185.31 – 184.52 zone
These levels align with prior demand zones and price reactions.
📊 Volume Confirmation
Noticeable increase in selling volume supports bearish bias, enhancing the probability of price moving toward the identified targets.
If you enjoy, press the like button.
Trade active
From resistance area , Note
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Disclaimer
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💸FREE FOREX Signals in Telegram : t.me/+Dsyl8z6KZao3ZDU8
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
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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.