This is an updated GBP/JPY 4-hour chart with a broader context than the previous one. Here's the breakdown:
Chart Overview:
Pair: GBP/JPY (British Pound vs Japanese Yen)
Timeframe: 4H (4-hour)
Current Price: Around 192.430
Broker: OANDA
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Structure & Analysis:
1. Downtrend Followed by Reversal:
On the left side of the chart, there's a strong downtrend.
Then, a sharp bullish move follows, indicating a possible reversal or correction phase.
2. Entry Zone (Highlighted in Red):
Between 192.519 and 191.516
Marked as the area where buyers are expected to step in.
Price has pulled back into this zone after a strong bullish move.
3. Bullish Projection (Zigzag Path):
Expected upward movement drawn with black zigzag lines.
Suggests a potential bullish market structure forming with higher highs and higher lows.
4. Target Levels:
First target: 194.734
Second target zone: 195.633 – 195.640
5. Key Support:
191.516 is acting as a strong support (bottom of the entry zone).
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Conclusion:
This chart suggests a buy setup after a bullish reversal, with price currently in the entry zone. If the setup holds, price could continue upward toward the targets mentioned.
Really nice and clean markup — you're showing a proper structure break, pullback, and continuation plan. Planning to execute this or waiting for more confirmation?
Chart Overview:
Pair: GBP/JPY (British Pound vs Japanese Yen)
Timeframe: 4H (4-hour)
Current Price: Around 192.430
Broker: OANDA
---
Structure & Analysis:
1. Downtrend Followed by Reversal:
On the left side of the chart, there's a strong downtrend.
Then, a sharp bullish move follows, indicating a possible reversal or correction phase.
2. Entry Zone (Highlighted in Red):
Between 192.519 and 191.516
Marked as the area where buyers are expected to step in.
Price has pulled back into this zone after a strong bullish move.
3. Bullish Projection (Zigzag Path):
Expected upward movement drawn with black zigzag lines.
Suggests a potential bullish market structure forming with higher highs and higher lows.
4. Target Levels:
First target: 194.734
Second target zone: 195.633 – 195.640
5. Key Support:
191.516 is acting as a strong support (bottom of the entry zone).
---
Conclusion:
This chart suggests a buy setup after a bullish reversal, with price currently in the entry zone. If the setup holds, price could continue upward toward the targets mentioned.
Really nice and clean markup — you're showing a proper structure break, pullback, and continuation plan. Planning to execute this or waiting for more confirmation?
Fed up with random trades and no progress? I drop real setups that make sense — not hype. If you're serious about growing, hop into the Telegram group and let’s build something real.
t.me/+galBMpR4FpNiOGI8
t.me/+galBMpR4FpNiOGI8
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.
Fed up with random trades and no progress? I drop real setups that make sense — not hype. If you're serious about growing, hop into the Telegram group and let’s build something real.
t.me/+galBMpR4FpNiOGI8
t.me/+galBMpR4FpNiOGI8
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.